RWC Asset Management LLP Makes New Investment in Telecom Argentina S.A. (NYSE:TEO)

RWC Asset Management LLP acquired a new position in shares of Telecom Argentina S.A. (NYSE:TEO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 371,578 shares of the utilities provider’s stock, valued at approximately $2,657,000.

Several other institutional investors have also recently bought and sold shares of the business. RWC Asset Advisors US LLC purchased a new stake in shares of Telecom Argentina in the fourth quarter valued at about $2,212,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Telecom Argentina by 44.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 457,898 shares of the utilities provider’s stock valued at $3,274,000 after purchasing an additional 140,362 shares during the last quarter. Oaktree Capital Management LP raised its holdings in shares of Telecom Argentina by 20.2% in the third quarter. Oaktree Capital Management LP now owns 2,444,156 shares of the utilities provider’s stock valued at $11,708,000 after purchasing an additional 410,415 shares during the last quarter. Finally, JGP Global Gestao de Recursos Ltda. purchased a new stake in shares of Telecom Argentina in the third quarter valued at about $180,000.

Telecom Argentina Stock Up 4.9 %

Shares of TEO stock traded up $0.37 on Friday, hitting $7.99. The stock had a trading volume of 266,514 shares, compared to its average volume of 203,030. The business has a 50 day moving average of $7.54 and a 200 day moving average of $7.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.42 and a current ratio of 0.44. Telecom Argentina S.A. has a 12-month low of $4.50 and a 12-month high of $8.87.

Telecom Argentina (NYSE:TEO) last posted its quarterly earnings data on Monday, March 11th. The utilities provider reported ($2.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.24) by $0.08. Telecom Argentina had a negative net margin of 13.68% and a negative return on equity of 10.49%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $936.76 million. Equities research analysts anticipate that Telecom Argentina S.A. will post 0.36 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Telecom Argentina from a “hold” rating to a “sell” rating in a report on Wednesday.

Telecom Argentina Company Profile

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.