MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Position in Telecom Argentina S.A. (NYSE:TEO)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Telecom Argentina S.A. (NYSE:TEO) by 111.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,327,035 shares of the utilities provider’s stock after buying an additional 1,224,369 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Telecom Argentina were worth $29,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bosun Asset Management LLC purchased a new stake in Telecom Argentina in the 4th quarter valued at $1,031,000. Bank of America Corp DE raised its position in Telecom Argentina by 87.0% in the 4th quarter. Bank of America Corp DE now owns 20,684 shares of the utilities provider’s stock valued at $260,000 after buying an additional 9,621 shares during the last quarter. Freedom Investment Management Inc. purchased a new stake in Telecom Argentina in the 4th quarter valued at $577,000. NewEdge Advisors LLC purchased a new stake in Telecom Argentina in the 4th quarter valued at $202,000. Finally, XTX Topco Ltd raised its position in Telecom Argentina by 64.7% in the 4th quarter. XTX Topco Ltd now owns 17,510 shares of the utilities provider’s stock valued at $220,000 after buying an additional 6,878 shares during the last quarter.

Telecom Argentina Stock Up 1.7%

Shares of NYSE:TEO opened at $11.07 on Thursday. The company has a market capitalization of $4.77 billion, a PE ratio of -61.50 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37. The business has a fifty day moving average price of $10.38 and a two-hundred day moving average price of $11.61. Telecom Argentina S.A. has a 1 year low of $5.52 and a 1 year high of $15.54.

Telecom Argentina (NYSE:TEO) last announced its quarterly earnings data on Monday, May 12th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.44. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.08 billion. Telecom Argentina had a negative return on equity of 1.26% and a negative net margin of 1.91%. Analysts forecast that Telecom Argentina S.A. will post 1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TEO shares. JPMorgan Chase & Co. raised Telecom Argentina from a “neutral” rating to an “overweight” rating and increased their price target for the company from $10.00 to $13.00 in a research report on Tuesday, February 25th. Scotiabank upped their price objective on Telecom Argentina from $6.10 to $6.20 and gave the company a “sector underperform” rating in a research note on Thursday, March 13th. Finally, The Goldman Sachs Group upped their price objective on Telecom Argentina from $8.30 to $9.50 and gave the company a “sell” rating in a research note on Wednesday, April 23rd.

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.