GAMMA Investing LLC Buys 35,264 Shares of Telecom Argentina S.A. (NYSE:TEO)

GAMMA Investing LLC lifted its stake in Telecom Argentina S.A. (NYSE:TEO - Free Report) by 900.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,181 shares of the utilities provider's stock after buying 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 reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Freedom Investment Management Inc. acquired a new position in Telecom Argentina during the fourth quarter worth $577,000. Bosun Asset Management LLC acquired a new stake in shares of Telecom Argentina during the 4th quarter worth about $1,031,000. XTX Topco Ltd lifted its holdings in Telecom Argentina by 64.7% during the 4th quarter. XTX Topco Ltd now owns 17,510 shares of the utilities provider's stock valued at $220,000 after purchasing an additional 6,878 shares during the last quarter. NewEdge Advisors LLC acquired a new position in Telecom Argentina in the fourth quarter valued at about $202,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Telecom Argentina during the fourth quarter worth about $106,000.

Telecom Argentina Trading Up 1.9%

Telecom Argentina stock traded up $0.18 during mid-day trading on Thursday, hitting $9.77. The stock had a trading volume of 131,759 shares, compared to its average volume of 208,396. The stock has a 50-day simple moving average of $10.21 and a two-hundred day simple moving average of $11.47. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $4.21 billion, a PE ratio of -54.27 and a beta of 1.21. Telecom Argentina S.A. has a 12 month low of $5.52 and a 12 month high of $15.54.

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 the consensus estimate of ($0.24) by $0.44. Telecom Argentina had a negative net margin of 1.91% and a negative return on equity of 1.26%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.08 billion. As a group, sell-side analysts forecast that Telecom Argentina S.A. will post 1.28 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on TEO shares. Scotiabank reissued an "underperform" rating on shares of Telecom Argentina in a report on Thursday, May 15th. JPMorgan Chase & Co. upgraded shares of Telecom Argentina from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $10.00 to $13.00 in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group raised their price target on shares of Telecom Argentina from $8.30 to $9.50 and gave the company a "sell" rating in a report on Wednesday, April 23rd.

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.