RWC Asset Management LLP Has $11.73 Million Position in Telecom Argentina S.A. (NYSE:TEO)

RWC Asset Management LLP lessened its holdings in shares of Telecom Argentina S.A. (NYSE:TEO) by 22.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 owned 0.22% of Telecom Argentina worth $11,728,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Advisors Preferred LLC bought a new stake in shares of Telecom Argentina during the fourth quarter worth about $75,000. JGP Global Gestao de Recursos Ltda. acquired a new position in Telecom Argentina during the 4th quarter valued at about $853,000. GAMMA Investing LLC boosted its stake in Telecom Argentina by 113.3% during the 4th quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 2,081 shares during the last quarter. XTX Topco Ltd bought a new stake in Telecom Argentina during the 3rd quarter worth approximately $80,000. Finally, Stifel Financial Corp purchased a new stake in shares of Telecom Argentina in the third quarter worth approximately $91,000.

Telecom Argentina Trading Down 2.9 %

Shares of Telecom Argentina stock opened at $11.62 on Monday. The stock has a fifty day moving average price of $12.45 and a 200-day moving average price of $10.49. 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 firm has a market cap of $5.00 billion, a PE ratio of -64.54 and a beta of 0.92. Telecom Argentina S.A. has a 1 year low of $5.52 and a 1 year high of $15.53.

Wall Street Analysts Forecast Growth

TEO has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on Telecom Argentina from $7.30 to $8.30 and gave the company a “sell” rating in a research report on Wednesday, November 20th. StockNews.com upgraded shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th.

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.