Telecom Argentina Stet – France Telecom (NYSE:TEO) Stock Price Down 6% – Here’s Why

Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) shares fell 6% during trading on Thursday. The stock traded as low as $11.50 and last traded at $11.5350. Approximately 189,983 shares changed hands during trading, a decline of 46% from the average session volume of 352,181 shares. The stock had previously closed at $12.27.

Analyst Ratings Changes

TEO has been the topic of a number of research analyst reports. Weiss Ratings raised Telecom Argentina Stet – France Telecom from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 16th. Wall Street Zen lowered shares of Telecom Argentina Stet – France Telecom from a “buy” rating to a “hold” rating in a research note on Sunday, September 20th. Morgan Stanley raised shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $13.00 to $17.00 in a report on Wednesday, June 24th. Zacks Research cut shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, UBS Group cut their target price on shares of Telecom Argentina Stet – France Telecom from $18.00 to $16.50 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.93.

Telecom Argentina Stet – France Telecom Stock Down 5.1%

The company’s 50-day moving average price is $13.44 and its 200 day moving average price is $12.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.58. The stock has a market cap of $5.02 billion, a PE ratio of 9.48 and a beta of 1.33.

Insiders Place Their Bets

In other news, Director Baruki Luis Alberto Gonzalez sold 188,500 shares of Telecom Argentina Stet – France Telecom stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $2.78, for a total transaction of $524,030.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom

Institutional investors have recently bought and sold shares of the stock. XP Advisory US Inc. bought a new position in shares of Telecom Argentina Stet – France Telecom in the second quarter worth about $82,000. Y Intercept Hong Kong Ltd increased its stake in shares of Telecom Argentina Stet – France Telecom by 8.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 21,330 shares of the utilities provider’s stock worth $249,000 after purchasing an additional 1,628 shares in the last quarter. Pictet Asset Management Holding SA bought a new stake in shares of Telecom Argentina Stet – France Telecom during the 1st quarter valued at $561,000. Verde Servicos Internacionais S.A. purchased a new position in shares of Telecom Argentina Stet – France Telecom during the 1st quarter valued at $701,000. Finally, Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Telecom Argentina Stet – France Telecom during the 1st quarter valued at $1,015,000.

About Telecom Argentina Stet – France Telecom

Telecom Argentina SA, formerly known as Telecom Argentina Stet-France Telecom SA, is an Argentine telecommunications company that provides connectivity and communications services to consumers, businesses and government organizations. Its operations include fixed-line and mobile voice services, broadband internet, data transmission, digital communications and information technology solutions.

The company markets consumer services under brands including Personal, which provides mobile and broadband services, and Flow, its entertainment and pay-TV platform.