MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $29.30 Million Stock Position in Telecom Argentina S.A. (NYSE:TEO)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Telecom Argentina S.A. (NYSE:TEO) by 111.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,327,035 shares of the utilities provider’s stock after acquiring an additional 1,224,369 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.54% of Telecom Argentina worth $29,297,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Preferred LLC acquired a new position in shares of Telecom Argentina in the fourth quarter worth approximately $75,000. Atlas Capital Advisors Inc. acquired a new position in shares of Telecom Argentina in the fourth quarter worth approximately $106,000. OLD Mission Capital LLC acquired a new position in shares of Telecom Argentina in the fourth quarter worth approximately $133,000. NewEdge Advisors LLC acquired a new position in shares of Telecom Argentina in the fourth quarter worth approximately $202,000. Finally, XTX Topco Ltd lifted its stake in shares of Telecom Argentina by 64.7% in the fourth quarter. XTX Topco Ltd now owns 17,510 shares of the utilities provider’s stock worth $220,000 after acquiring an additional 6,878 shares during the period.

Telecom Argentina Price Performance

Shares of NYSE:TEO opened at $11.07 on Thursday. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. Telecom Argentina S.A. has a twelve month low of $5.52 and a twelve month high of $15.54. The stock’s 50 day moving average is $10.38 and its 200-day moving average is $11.61. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of -61.50 and a beta of 1.28.

Telecom Argentina (NYSE:TEO) last issued its earnings results on Monday, May 12th. The utilities provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.44. Telecom Argentina had a negative return on equity of 1.26% and a negative net margin of 1.91%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.08 billion. Sell-side analysts forecast that Telecom Argentina S.A. will post 1.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on TEO shares. Scotiabank boosted their price target 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. The Goldman Sachs Group boosted their price target on Telecom Argentina from $8.30 to $9.50 and gave the company a “sell” rating in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. raised Telecom Argentina from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $10.00 to $13.00 in a research note on Tuesday, February 25th.

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.