RWC Asset Management LLP lowered its stake in shares of Telecom Argentina S.A. (NYSE:TEO – Free Report) by 22.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 931,538 shares of the utilities provider’s stock after selling 269,417 shares during the quarter. RWC Asset Management LLP’s holdings in Telecom Argentina were worth $11,728,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in Telecom Argentina by 113.3% during the fourth quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 2,081 shares during the last quarter. Advisors Preferred LLC bought a new stake in Telecom Argentina in the 4th quarter worth approximately $75,000. XTX Topco Ltd bought a new stake in Telecom Argentina in the 3rd quarter worth approximately $80,000. Stifel Financial Corp purchased a new stake in Telecom Argentina in the third quarter worth approximately $91,000. Finally, Centiva Capital LP bought a new position in Telecom Argentina during the third quarter valued at approximately $123,000.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on TEO shares. The Goldman Sachs Group increased their target price on shares of Telecom Argentina from $7.30 to $8.30 and gave the company a “sell” rating in a report on Wednesday, November 20th. StockNews.com upgraded Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.
Telecom Argentina Price Performance
TEO stock opened at $11.62 on Monday. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average price is $12.45 and its two-hundred day moving average price is $10.49. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of -64.54 and a beta of 0.92. Telecom Argentina S.A. has a 12-month low of $5.52 and a 12-month high of $15.53.
About Telecom Argentina
Telecom Argentina SA, together with its subsidiaries, provides telecommunications services. The company offers mobile telecommunications services, including voice communications, high-speed mobile Internet content and applications download, online streaming, and other services; and sells mobile communication devices, such as handsets, Modems MiFi and wingles, and smart watches.
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