Castleark Management LLC bought a new position in shares of Telecom Argentina SA (NYSE:TEO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,900 shares of the utilities provider’s stock, valued at approximately $143,000.
Other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in Telecom Argentina by 41.1% in the fourth quarter. Acadian Asset Management LLC now owns 1,235,429 shares of the utilities provider’s stock valued at $45,254,000 after purchasing an additional 359,665 shares during the period. BlackRock Inc. grew its holdings in Telecom Argentina by 47.6% in the fourth quarter. BlackRock Inc. now owns 804,206 shares of the utilities provider’s stock valued at $29,458,000 after purchasing an additional 259,385 shares during the period. Schroder Investment Management Group acquired a new stake in Telecom Argentina in the fourth quarter valued at approximately $28,380,000. Arrowstreet Capital Limited Partnership grew its holdings in Telecom Argentina by 36.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 395,991 shares of the utilities provider’s stock valued at $14,505,000 after purchasing an additional 105,709 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Telecom Argentina in the fourth quarter valued at approximately $13,444,000. 8.17% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on TEO shares. Morgan Stanley lowered Telecom Argentina from an “equal weight” rating to an “underweight” rating in a report on Tuesday, April 3rd. Citigroup started coverage on Telecom Argentina in a report on Monday, January 8th. They issued a “buy” rating and a $46.00 price objective on the stock. Zacks Investment Research raised Telecom Argentina from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Saturday, February 3rd. Finally, HSBC lowered Telecom Argentina from a “hold” rating to a “reduce” rating in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $36.75.
Shares of NYSE TEO traded down $0.09 during midday trading on Thursday, hitting $31.05. The stock had a trading volume of 92,823 shares, compared to its average volume of 198,566. The company has a market cap of $6,004.92, a PE ratio of 22.34, a price-to-earnings-growth ratio of 1.02 and a beta of 1.13. Telecom Argentina SA has a 1 year low of $22.11 and a 1 year high of $40.19. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.83 and a quick ratio of 0.75.
The company also recently announced a special dividend, which was paid on Wednesday, March 28th. Stockholders of record on Tuesday, March 20th were given a $0.7874 dividend. This represents a dividend yield of 4.36%. The ex-dividend date of this dividend was Monday, March 19th. This is an increase from Telecom Argentina’s previous special dividend of $0.37. Telecom Argentina’s dividend payout ratio (DPR) is 246.76%.
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Telecom Argentina Company Profile
Telecom Argentina SA provides fixed-line telecommunications services in Argentina, and also provides other telephone-related services, such as international long-distance service, data transmission, information technology solutions outsourcing and Internet services. The Company’s segments include Fixed Telecommunications Services (Fixed Services), Personal Mobile Telecommunications Services (Personal Mobile Services) and Nucleo Mobile Telecommunications Services (Nucleo Mobile Services).
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