Telefonica SA $TEF Shares Sold by Mainstay Capital Management LLC ADV

Mainstay Capital Management LLC ADV cut its stake in shares of Telefonica SA (NYSE:TEF) by 46.2% during the third quarter, Holdings Channel reports. The firm owned 420,161 shares of the utilities provider’s stock after selling 360,124 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in Telefonica were worth $2,134,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TEF. National Bank of Canada FI increased its stake in Telefonica by 367.7% in the 3rd quarter. National Bank of Canada FI now owns 4,897 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 3,850 shares in the last quarter. Momentous Wealth Management Inc. acquired a new stake in Telefonica during the 3rd quarter worth about $51,000. AlphaCore Capital LLC purchased a new stake in Telefonica during the second quarter valued at about $55,000. Sei Investments Co. acquired a new position in shares of Telefonica in the third quarter worth about $61,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Telefonica by 101,907.7% in the third quarter. BNP Paribas Financial Markets now owns 13,261 shares of the utilities provider’s stock worth $67,000 after buying an additional 13,248 shares during the period. Institutional investors and hedge funds own 1.14% of the company’s stock.

Telefonica Price Performance

Shares of TEF opened at $3.81 on Thursday. The business’s 50-day moving average is $3.81 and its 200-day moving average is $4.36. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.84 and a quick ratio of 0.80. The company has a market capitalization of $21.60 billion, a price-to-earnings ratio of -9.29, a P/E/G ratio of 0.26 and a beta of 0.29. Telefonica SA has a fifty-two week low of $3.80 and a fifty-two week high of $5.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. New Street Research lowered shares of Telefonica from a “hold” rating to a “reduce” rating in a report on Wednesday, December 17th. Citigroup lowered shares of Telefonica to a “neutral” rating in a research note on Monday, December 1st. Kepler Capital Markets upgraded shares of Telefonica from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Wall Street Zen raised shares of Telefonica from a “sell” rating to a “hold” rating in a research note on Monday, November 24th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Telefonica in a report on Monday, December 29th. Four research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Strong Sell” and an average price target of $4.02.

Telefonica Company Profile

Telefónica, SA is a Spanish multinational telecommunications company headquartered in Madrid. Founded in 1924 as Compañía Telefónica Nacional de España, it has grown into one of the world’s largest telecommunications groups. Telefónica provides a broad range of communications services to residential and business customers, including mobile and fixed-line telephony, broadband internet, and pay-TV. The company also develops and sells network infrastructure and related services to support connectivity at scale.

Beyond traditional voice and data services, Telefónica has expanded into digital and IT services aimed at enterprise customers and public-sector clients.