Telecom Argentina S.A. (NYSE:TEO) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Telecom Argentina S.A. (NYSE:TEO) by 44.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 457,898 shares of the utilities provider’s stock after acquiring an additional 140,362 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Telecom Argentina were worth $3,274,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC acquired a new position in shares of Telecom Argentina during the fourth quarter worth $25,000. Bank of America Corp DE grew its stake in shares of Telecom Argentina by 73.8% during the first quarter. Bank of America Corp DE now owns 17,530 shares of the utilities provider’s stock worth $87,000 after purchasing an additional 7,445 shares in the last quarter. Invesco Ltd. grew its stake in shares of Telecom Argentina by 13.4% during the third quarter. Invesco Ltd. now owns 68,606 shares of the utilities provider’s stock worth $329,000 after purchasing an additional 8,096 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Telecom Argentina during the third quarter worth $37,000. Finally, Susquehanna International Group LLP acquired a new position in Telecom Argentina in the first quarter valued at $62,000.

Telecom Argentina Stock Performance

NYSE TEO opened at $7.05 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.42 and a current ratio of 0.44. Telecom Argentina S.A. has a 1 year low of $4.50 and a 1 year high of $8.87. The company has a fifty day moving average of $7.53 and a two-hundred day moving average of $6.99.

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

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Tuesday.

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.