Mirae Asset Global Investments Co. Ltd. Buys 140,362 Shares of Telecom Argentina S.A. (NYSE:TEO)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Telecom Argentina S.A. (NYSE:TEO) by 44.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TEO. Eaton Vance Management bought a new stake in Telecom Argentina during the 1st quarter valued at $3,507,000. Morgan Stanley boosted its position in Telecom Argentina by 791.4% during the 4th quarter. Morgan Stanley now owns 638,931 shares of the utilities provider’s stock valued at $3,482,000 after acquiring an additional 567,253 shares in the last quarter. Oaktree Capital Management LP boosted its position in Telecom Argentina by 20.2% during the 3rd quarter. Oaktree Capital Management LP now owns 2,444,156 shares of the utilities provider’s stock valued at $11,708,000 after acquiring an additional 410,415 shares in the last quarter. Millennium Management LLC boosted its position in Telecom Argentina by 225.6% during the 2nd quarter. Millennium Management LLC now owns 351,550 shares of the utilities provider’s stock valued at $1,600,000 after acquiring an additional 243,570 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Telecom Argentina by 301.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 117,745 shares of the utilities provider’s stock valued at $717,000 after purchasing an additional 88,395 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Telecom Argentina from a “sell” rating to a “hold” rating in a report on Tuesday.

Telecom Argentina Trading Down 2.5 %

Shares of TEO opened at $7.05 on Thursday. Telecom Argentina S.A. has a 12 month low of $4.50 and a 12 month high of $8.87. The stock has a fifty day moving average price of $7.53 and a 200-day moving average price of $6.99. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 0.70.

Telecom Argentina (NYSE:TEO) last issued its quarterly earnings data on Monday, March 11th. The utilities provider reported ($2.16) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $936.76 million. On average, research analysts expect that Telecom Argentina S.A. will post 0.36 earnings per share for the current year.

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.