Oaktree Capital Management LP Sells 725,264 Shares of Telecom Argentina Stet – France Telecom S.A. $TEO

Oaktree Capital Management LP lowered its stake in Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) by 30.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,622,244 shares of the utilities provider’s stock after selling 725,264 shares during the period. Oaktree Capital Management LP’s holdings in Telecom Argentina Stet – France Telecom were worth $18,964,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. SPX Gestao de Recursos Ltda purchased a new position in Telecom Argentina Stet – France Telecom during the 1st quarter valued at $8,565,000. Sagil Capital LLP purchased a new position in Telecom Argentina Stet – France Telecom in the 4th quarter worth approximately $7,629,000. Banco BTG Pactual S.A. purchased a new position in shares of Telecom Argentina Stet – France Telecom during the third quarter valued at approximately $2,725,000. RWC Asset Management LLP grew its stake in shares of Telecom Argentina Stet – France Telecom by 50.7% during the 4th quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider’s stock valued at $11,717,000 after purchasing an additional 339,416 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Telecom Argentina Stet – France Telecom in the fourth quarter worth about $1,969,000.

Analyst Upgrades and Downgrades

A number of research firms have commented on TEO. JPMorgan Chase & Co. raised their price target on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, June 9th. Wall Street Zen cut Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “buy” rating in a report on Sunday. Scotiabank boosted their price target on shares of Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the stock a “sector underperform” rating in a research report on Wednesday, May 27th. Zacks Research cut shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Weiss Ratings upgraded shares of Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.55.

Telecom Argentina Stet – France Telecom Price Performance

NYSE TEO opened at $13.56 on Thursday. Telecom Argentina Stet – France Telecom S.A. has a 52-week low of $6.43 and a 52-week high of $16.34. The firm’s 50 day moving average price is $13.50 and its 200-day moving average price is $12.35. The company has a market cap of $5.84 billion, a PE ratio of 26.59 and a beta of 1.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.56 and a current ratio of 0.58.

Insider Transactions at Telecom Argentina Stet – France Telecom

In other Telecom Argentina Stet – France Telecom news, Director Alejandro Alberto Urricelqui purchased 38,890 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was bought at an average cost of $13.43 per share, for a total transaction of $522,292.70. Following the completion of the purchase, the director owned 399,348 shares in the company, valued at $5,363,243.64. This represents a 10.79% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Telecom Argentina Stet – France Telecom Company Profile

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.