BUZZ-Globant shares slump after Spruce Point issues strong sell opinion

** Globant SA U.S.-listed shares off 1.45 pct at $48.12, had slumped to session low of $46.46 around 11:30 am EDT

** Spruce Point Capital said it is short the stock, expects "shares to be materially re-rated lower by 40-50" pct https://bit.ly/2Ej872Y

** Globant has a slowing organic growth profile, according to Spruce, and estimates about 47 pct of co's 2017 growth was from acquisitions

** Spruce said insiders have sold or transferred over 70 pct of shares since Globant IPO in Jul 2014; says Globant files insider transactions electronically with Luxembourg exchange but paper form 144s with the SEC (Shanghai: 603988.SS - news)

** WPP (Frankfurt: A1J2BZ - news) is largest Globant shareholder, whose CEO Martin Sorrell is under investigation for misuse of company assets; Spruce believes it could be a "major overhang" on Globant shares

** Of 10 analysts covering Globant, 7 maintain a "buy" or higher rating, according to Thomson Reuters (Dusseldorf: TOC.DU - news) data; median PT of $55 is up from $45 three mths ago