120,000 Shares in Telecom Argentina Stet – France Telecom S.A. $TEO Purchased by Monaco Asset Management SAM

by · The Markets Daily

Monaco Asset Management SAM acquired a new position in Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 120,000 shares of the utilities provider’s stock, valued at approximately $872,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in shares of Telecom Argentina Stet – France Telecom by 34.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 149,672 shares of the utilities provider’s stock worth $1,322,000 after buying an additional 38,107 shares during the last quarter. Bank of America Corp DE increased its position in shares of Telecom Argentina Stet – France Telecom by 21.3% in the second quarter. Bank of America Corp DE now owns 26,872 shares of the utilities provider’s stock valued at $237,000 after acquiring an additional 4,714 shares during the last quarter. Jane Street Group LLC bought a new stake in Telecom Argentina Stet – France Telecom during the second quarter worth about $578,000. Jump Financial LLC acquired a new position in Telecom Argentina Stet – France Telecom during the second quarter valued at approximately $596,000. Finally, Marshall Wace LLP acquired a new position in Telecom Argentina Stet – France Telecom during the second quarter valued at approximately $346,000.

Wall Street Analyst Weigh In

Several research firms have weighed in on TEO. UBS Group set a $17.00 price target on Telecom Argentina Stet – France Telecom and gave the stock a “buy” rating in a research report on Monday, November 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Telecom Argentina Stet – France Telecom in a research note on Monday, December 29th. Finally, Zacks Research cut Telecom Argentina Stet – France Telecom from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $11.93.

Check Out Our Latest Report on TEO

Telecom Argentina Stet – France Telecom Price Performance

Telecom Argentina Stet – France Telecom stock opened at $11.43 on Friday. The stock’s 50 day moving average is $11.73 and its 200-day moving average is $10.38. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of -32.66 and a beta of 1.22. Telecom Argentina Stet – France Telecom S.A. has a 12 month low of $6.43 and a 12 month high of $13.81. The company has a current ratio of 0.52, a quick ratio of 0.50 and a debt-to-equity ratio of 0.56.

Telecom Argentina Stet – France Telecom Profile

(Free Report)

Telecom Argentina Stet – France Telecom (NYSE:TEO) is an integrated telecommunications provider based in Buenos Aires, Argentina. Originally formed through the 1990 privatization of the state-owned Empresa Nacional de Telecomunicaciones (ENTel), the company was initially backed by Italian state carrier STET and French operator France Télécom. Since its listing on the New York Stock Exchange under the ticker TEO, Telecom Argentina has evolved into one of the country’s principal communications groups, offering a comprehensive portfolio of voice and data services.

The company’s core business activities span fixed-line telephony, mobile services, broadband internet and digital television.

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