GAMMA Investing LLC Increases Position in Telecom Argentina S.A. (NYSE:TEO)

GAMMA Investing LLC raised its stake in shares of Telecom Argentina S.A. (NYSE:TEO - Free Report) by 900.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,181 shares of the utilities provider's stock after purchasing an additional 35,264 shares during the period. GAMMA Investing LLC's holdings in Telecom Argentina were worth $3,845,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Telecom Argentina by 111.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider's stock worth $29,297,000 after acquiring an additional 1,224,369 shares in the last quarter. Bosun Asset Management LLC bought a new position in shares of Telecom Argentina in the 4th quarter worth about $1,031,000. Bank of America Corp DE raised its position in shares of 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 worth $260,000 after acquiring an additional 9,621 shares in the last quarter. Freedom Investment Management Inc. acquired a new stake in shares of Telecom Argentina in the 4th quarter valued at about $577,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Telecom Argentina in the 4th quarter valued at about $202,000.

Analysts Set New Price Targets

Several brokerages have recently commented on TEO. JPMorgan Chase & Co. upgraded Telecom Argentina from a "neutral" rating to an "overweight" rating and raised their target price for the company from $10.00 to $13.00 in a research note on Tuesday, February 25th. The Goldman Sachs Group raised their target price 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, Scotiabank reiterated an "underperform" rating on shares of Telecom Argentina in a research note on Thursday, May 15th.

Telecom Argentina Stock Performance

Shares of NYSE:TEO traded down $0.40 during mid-day trading on Friday, reaching $9.44. The company had a trading volume of 161,242 shares, compared to its average volume of 207,563. The company's 50-day moving average price is $10.21 and its 200-day moving average price is $11.40. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. Telecom Argentina S.A. has a one year low of $5.52 and a one year high of $15.54. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of -52.44 and a beta of 1.21.

Telecom Argentina (NYSE:TEO - Get Free Report) last issued its earnings results 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 business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.08 billion. Telecom Argentina had a negative net margin of 1.91% and a negative return on equity of 1.26%. As a group, equities research analysts anticipate that Telecom Argentina S.A. will post 1.28 EPS for the current fiscal year.

Telecom Argentina 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.