Millennium Management LLC Has $475,000 Position in Telecom Argentina S.A. (NYSE:TEO)

Millennium Management LLC lessened its position in Telecom Argentina S.A. (NYSE:TEO - Free Report) by 77.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,700 shares of the utilities provider's stock after selling 128,204 shares during the quarter. Millennium Management LLC's holdings in Telecom Argentina were worth $475,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 valued at $29,297,000 after purchasing an additional 1,224,369 shares during the period. Bosun Asset Management LLC purchased a new stake in Telecom Argentina in the 4th quarter worth approximately $1,031,000. Bank of America Corp DE boosted its stake in shares of Telecom Argentina by 87.0% during the 4th quarter. Bank of America Corp DE now owns 20,684 shares of the utilities provider's stock valued at $260,000 after buying an additional 9,621 shares during the period. Freedom Investment Management Inc. purchased a new position in shares of Telecom Argentina during the 4th quarter valued at $577,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Telecom Argentina in the fourth quarter worth $202,000.

Telecom Argentina Stock Down 4.1%

Shares of NYSE:TEO traded down $0.40 on Friday, reaching $9.44. The company had a trading volume of 161,242 shares, compared to its average volume of 208,208. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $4.07 billion, a P/E ratio of -52.44 and a beta of 1.21. The stock has a 50-day moving average price of $10.21 and a 200 day moving average price of $11.45. Telecom Argentina S.A. has a twelve month low of $5.52 and a twelve month high of $15.54.

Telecom Argentina (NYSE:TEO - Get Free Report) last posted its earnings results on Monday, May 12th. The utilities provider reported $0.20 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.08 billion. On average, equities analysts expect that Telecom Argentina S.A. will post 1.28 EPS for the current year.

Wall Street Analyst Weigh In

TEO has been the topic of a number of recent research reports. Scotiabank restated an "underperform" rating on shares of Telecom Argentina in a research note on Thursday, May 15th. 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. Finally, The Goldman Sachs Group lifted their target price on shares of Telecom Argentina from $8.30 to $9.50 and gave the company a "sell" rating in a research note on Wednesday, April 23rd.

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.