Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Telecom Argentina SA (NYSE:TEO) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 231,751 shares of the utilities provider’s stock, valued at approximately $4,037,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.12% of Telecom Argentina at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in TEO. Key Square Capital Management LLC purchased a new stake in Telecom Argentina during the 2nd quarter valued at approximately $37,114,000. Newfoundland Capital Management grew its holdings in Telecom Argentina by 109.7% during the 3rd quarter. Newfoundland Capital Management now owns 762,553 shares of the utilities provider’s stock valued at $13,284,000 after buying an additional 398,963 shares in the last quarter. First Trust Advisors LP grew its holdings in Telecom Argentina by 290.4% during the 2nd quarter. First Trust Advisors LP now owns 273,598 shares of the utilities provider’s stock valued at $4,854,000 after buying an additional 203,511 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings in Telecom Argentina by 314.6% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 193,802 shares of the utilities provider’s stock valued at $6,174,000 after buying an additional 147,060 shares in the last quarter. Finally, Bienville Capital Management LLC purchased a new stake in Telecom Argentina during the 2nd quarter valued at approximately $2,559,000. 6.95% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the stock. TheStreet raised shares of Telecom Argentina from a “d+” rating to a “c-” rating in a report on Monday, December 3rd. Zacks Investment Research raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine lowered shares of Telecom Argentina from a “hold” rating to a “sell” rating in a report on Friday, November 16th. Finally, Bank of America lowered shares of Telecom Argentina from a “buy” rating to a “neutral” rating in a report on Friday, September 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $44.50.
TEO stock opened at $16.43 on Friday. Telecom Argentina SA has a fifty-two week low of $15.26 and a fifty-two week high of $40.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.45 and a quick ratio of 0.41.
Telecom Argentina (NYSE:TEO) last issued its quarterly earnings results on Thursday, November 8th. The utilities provider reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.54). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $987.40 million. Telecom Argentina had a negative return on equity of 12.13% and a negative net margin of 9.90%. On average, research analysts anticipate that Telecom Argentina SA will post -0.82 EPS for the current fiscal year.
Telecom Argentina Company Profile
Telecom Argentina SA, together with its subsidiaries, provides telecommunications services in Argentina and internationally. The company operates through three segments: Fixed Services, Personal Mobile Services, and Núcleo Mobile Services. It offers telephone services, including local, domestic, and international long-distance telephone services, as well as public telephone services; interconnection services, such as access, termination, and long-distance transport of calls; and data transmission and Internet services comprising broadband, Internet dedicated lines, private networks, national and international video streaming, transportation of radio and TV signals, and video conferencing services.
Want to see what other hedge funds are holding TEO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Telecom Argentina SA (NYSE:TEO).
Receive News & Ratings for Telecom Argentina Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telecom Argentina and related companies with MarketBeat.com's FREE daily email newsletter.