CenterBook Partners LP Makes New Investment in Telecom Argentina Stet – France Telecom S.A. $TEO

CenterBook Partners LP bought a new stake in shares of Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) in the fourth quarter, Holdings Channel.com reports. The fund bought 94,481 shares of the utilities provider’s stock, valued at approximately $1,097,000.

Other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp bought a new position in shares of Telecom Argentina Stet – France Telecom in the third quarter worth about $43,000. Engineers Gate Manager LP bought a new stake in Telecom Argentina Stet – France Telecom during the 2nd quarter valued at about $110,000. Qube Research & Technologies Ltd purchased a new stake in Telecom Argentina Stet – France Telecom in the 3rd quarter valued at about $98,000. Bank of America Corp DE boosted its position in Telecom Argentina Stet – France Telecom by 21.3% in the 2nd quarter. Bank of America Corp DE now owns 26,872 shares of the utilities provider’s stock valued at $237,000 after buying an additional 4,714 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Telecom Argentina Stet – France Telecom in the 1st quarter worth about $379,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Scotiabank raised their target price 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 upgraded Telecom Argentina Stet – France Telecom from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. increased their price objective on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Weiss Ratings upgraded Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.07.

Insider Buying and Selling at Telecom Argentina Stet – France Telecom

In related news, Director Alejandro Alberto Urricelqui acquired 38,890 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought at an average price of $13.43 per share, with a total value of $522,292.70. Following the completion of the transaction, the director directly owned 399,348 shares in the company, valued at $5,363,243.64. This trade represents a 10.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

Telecom Argentina Stet – France Telecom Price Performance

Shares of TEO opened at $14.16 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.56 and a current ratio of 0.58. The company has a 50 day moving average price of $12.25 and a 200-day moving average price of $11.91. Telecom Argentina Stet – France Telecom S.A. has a fifty-two week low of $6.43 and a fifty-two week high of $15.25. The stock has a market capitalization of $6.10 billion, a PE ratio of 27.77 and a beta of 1.32.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last issued its quarterly earnings data on Tuesday, February 10th. The utilities provider reported $0.02 EPS for the quarter. The company had revenue of $1.35 billion during the quarter. Telecom Argentina Stet – France Telecom had a net margin of 3.33% and a return on equity of 4.05%. Equities analysts predict that Telecom Argentina Stet – France Telecom S.A. will post 1.41 earnings per share for the current fiscal year.

About Telecom Argentina Stet – France Telecom

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.