MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $29.30 Million Holdings in Telecom Argentina S.A. (NYSE:TEO)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Telecom Argentina S.A. (NYSE:TEO - Free Report) by 111.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,327,035 shares of the utilities provider's stock after purchasing an additional 1,224,369 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.54% of Telecom Argentina worth $29,297,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TEO. Freedom Investment Management Inc. acquired a new stake in Telecom Argentina in the fourth quarter worth about $577,000. JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of Telecom Argentina in the 4th quarter worth approximately $853,000. Bosun Asset Management LLC acquired a new stake in shares of Telecom Argentina in the 4th quarter worth approximately $1,031,000. XTX Topco Ltd boosted its holdings in shares of Telecom Argentina by 64.7% in the fourth quarter. XTX Topco Ltd now owns 17,510 shares of the utilities provider's stock valued at $220,000 after acquiring an additional 6,878 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new position in shares of Telecom Argentina during the fourth quarter valued at approximately $202,000.

Telecom Argentina Price Performance

Telecom Argentina stock traded down $0.14 during mid-day trading on Tuesday, hitting $11.26. The company's stock had a trading volume of 73,426 shares, compared to its average volume of 217,968. The stock has a market capitalization of $4.85 billion, a P/E ratio of -62.54 and a beta of 1.28. Telecom Argentina S.A. has a twelve month low of $5.52 and a twelve month high of $15.53. The stock's fifty day moving average price is $10.39 and its two-hundred day moving average price is $11.69. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.31.

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, topping 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 return on equity of 1.26% and a negative net margin of 1.91%. Research analysts forecast that Telecom Argentina S.A. will post 1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TEO. The Goldman Sachs Group upped their target price on Telecom Argentina from $8.30 to $9.50 and gave the stock a "sell" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. upgraded Telecom Argentina from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $10.00 to $13.00 in a report on Tuesday, February 25th. Finally, Scotiabank reaffirmed an "underperform" rating on shares of Telecom Argentina in a research note on Thursday.

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.