RWC Asset Advisors US LLC Purchases New Stake in Telecom Argentina S.A. (NYSE:TEO)

RWC Asset Advisors US LLC purchased a new stake in Telecom Argentina S.A. (NYSE:TEO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 309,357 shares of the utilities provider’s stock, valued at approximately $2,212,000. Telecom Argentina makes up 0.2% of RWC Asset Advisors US LLC’s holdings, making the stock its 14th biggest holding.

Other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Telecom Argentina by 13.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 317,536 shares of the utilities provider’s stock worth $1,521,000 after purchasing an additional 38,149 shares in the last quarter. JGP Global Gestao de Recursos Ltda. purchased a new stake in Telecom Argentina during the third quarter worth $180,000. Finally, Oaktree Capital Management LP boosted its position in 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 worth $11,708,000 after purchasing an additional 410,415 shares in the last quarter.

Analyst Ratings Changes

Separately, StockNews.com downgraded Telecom Argentina from a “hold” rating to a “sell” rating in a research report on Wednesday.

Telecom Argentina Price Performance

TEO traded up $0.37 during trading on Friday, reaching $7.99. 266,514 shares of the stock were exchanged, compared to its average volume of 203,030. Telecom Argentina S.A. has a 1 year low of $4.50 and a 1 year high of $8.87. The business’s 50 day moving average price is $7.54 and its two-hundred day moving average price is $7.11. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 0.70.

Telecom Argentina (NYSE:TEO) last released its quarterly earnings results on Monday, March 11th. The utilities provider reported ($2.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.24) by $0.08. Telecom Argentina had a negative return on equity of 10.49% and a negative net margin of 13.68%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $936.76 million. On average, sell-side analysts anticipate that Telecom Argentina S.A. will post 0.36 EPS 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.