RWC Asset Management LLP Invests $2.66 Million in Telecom Argentina S.A. (NYSE:TEO)

RWC Asset Management LLP acquired a new position in shares of Telecom Argentina S.A. (NYSE:TEO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 371,578 shares of the utilities provider’s stock, valued at approximately $2,657,000.

Other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Telecom Argentina by 44.2% during 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 grew its stake in shares of Telecom Argentina by 20.2% during 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. JGP Global Gestao de Recursos Ltda. bought a new stake in shares of Telecom Argentina during the third quarter valued at approximately $180,000. Finally, RWC Asset Advisors US LLC bought a new stake in shares of Telecom Argentina during the fourth quarter valued at approximately $2,212,000.

Analyst Upgrades and Downgrades

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

Telecom Argentina Stock Performance

TEO stock traded up $0.37 during midday trading on Friday, reaching $7.99. The company’s stock had a trading volume of 266,514 shares, compared to its average volume of 203,030. Telecom Argentina S.A. has a 52 week low of $4.50 and a 52 week high of $8.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.42. The business’s 50-day simple moving average is $7.54 and its 200-day simple moving average is $7.11.

Telecom Argentina (NYSE:TEO) last announced its quarterly earnings data on Monday, March 11th. The utilities provider reported ($2.16) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $936.76 million. Analysts predict that Telecom Argentina S.A. will post 0.36 earnings per share for the current fiscal year.

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.