Avalon Advisors LLC Grows Position in Telecom Argentina SA (TEO)

Share on StockTwits

Avalon Advisors LLC increased its holdings in Telecom Argentina SA (NYSE:TEO) by 54.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,879 shares of the utilities provider’s stock after purchasing an additional 14,073 shares during the quarter. Avalon Advisors LLC’s holdings in Telecom Argentina were worth $1,249,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TEO. Castleark Management LLC acquired a new stake in shares of Telecom Argentina during the fourth quarter valued at approximately $143,000. Envestnet Asset Management Inc. raised its holdings in shares of Telecom Argentina by 72.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 4,105 shares of the utilities provider’s stock valued at $150,000 after acquiring an additional 1,729 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Telecom Argentina during the first quarter valued at approximately $174,000. Advisor Group Inc. raised its holdings in shares of Telecom Argentina by 41.1% during the fourth quarter. Advisor Group Inc. now owns 5,684 shares of the utilities provider’s stock valued at $208,000 after acquiring an additional 1,656 shares during the period. Finally, BlueCrest Capital Management Ltd acquired a new stake in shares of Telecom Argentina during the fourth quarter valued at approximately $261,000. Institutional investors and hedge funds own 8.06% of the company’s stock.

TEO has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Telecom Argentina from a “buy” rating to a “hold” rating in a report on Thursday, April 5th. ValuEngine lowered shares of Telecom Argentina from a “hold” rating to a “sell” rating in a report on Tuesday. HSBC upgraded shares of Telecom Argentina from a “reduce” rating to a “hold” rating in a report on Thursday. Finally, Morgan Stanley lowered shares of Telecom Argentina from an “equal weight” rating to an “underweight” rating in a report on Tuesday, April 3rd. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Telecom Argentina currently has a consensus rating of “Hold” and an average price target of $36.75.

Telecom Argentina stock opened at $17.74 on Friday. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 7.42, a P/E/G ratio of 1.73 and a beta of 1.07. The company has a current ratio of 0.49, a quick ratio of 0.46 and a debt-to-equity ratio of 0.15. Telecom Argentina SA has a twelve month low of $17.51 and a twelve month high of $40.19.

About Telecom Argentina

Telecom Argentina SA provides local and long distance fixed-line telephony, cellular, data transmission, and pay TV and Internet services in Argentina. It also offers cellular services in Paraguay and pay TV services in Uruguay. The company was formerly known as Cablevisión SA and changed its name to Telecom Argentina SA in January 2018.

Institutional Ownership by Quarter for Telecom Argentina (NYSE:TEO)

Receive News & Ratings for Telecom Argentina Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telecom Argentina and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply