RWC Asset Advisors US LLC Decreases Holdings in Telecom Argentina S.A. (NYSE:TEO)

RWC Asset Advisors US LLC lowered its position in Telecom Argentina S.A. (NYSE:TEO) by 23.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 835,165 shares of the utilities provider’s stock after selling 259,287 shares during the quarter. Telecom Argentina makes up approximately 2.1% of RWC Asset Advisors US LLC’s portfolio, making the stock its 11th biggest position. RWC Asset Advisors US LLC owned about 0.19% of Telecom Argentina worth $10,515,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TEO. JGP Global Gestao de Recursos Ltda. purchased a new stake in shares of Telecom Argentina in the 4th quarter valued at $853,000. Centiva Capital LP bought a new stake in Telecom Argentina in the third quarter worth $123,000. Stifel Financial Corp purchased a new stake in Telecom Argentina during the third quarter valued at about $91,000. XTX Topco Ltd bought a new position in shares of Telecom Argentina during the third quarter valued at about $80,000. Finally, Advisors Preferred LLC bought a new stake in shares of Telecom Argentina in the 4th quarter valued at about $75,000.

Telecom Argentina Stock Performance

Telecom Argentina stock opened at $11.62 on Monday. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. The firm has a market cap of $5.00 billion, a P/E ratio of -64.54 and a beta of 0.92. Telecom Argentina S.A. has a 1-year low of $5.52 and a 1-year high of $15.53. The firm has a 50-day moving average of $12.45 and a 200-day moving average of $10.49.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TEO shares. The Goldman Sachs Group raised their price target on Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a research report on Wednesday, November 20th. StockNews.com upgraded shares of Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

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.