Mirae Asset Global Investments Co. Ltd. Invests $4.04 Million in Telecom Argentina SA (TEO) Stock

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.

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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.

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Institutional Ownership by Quarter for Telecom Argentina (NYSE:TEO)

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