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

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

** 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, accordingto Spruce, and estimates about 47 pct of co's 2017 growth wasfrom acquisitions

** Spruce said insiders have sold or transferred over 70 pctof shares since Globant IPO in Jul 2014; says Globant filesinsider transactions electronically with Luxembourg exchange butpaper form 144s with the SEC

** WPP is largest Globant shareholder, whose CEOMartin Sorrell is under investigation for misuse of companyassets; Spruce believes it could be a "major overhang" onGlobant shares

** Of 10 analysts covering Globant, 7 maintain a "buy" orhigher rating, according to Thomson Reuters data; median PT of$55 is up from $45 three mths ago