Wells Fargo & Company MN Has $200,000 Stock Holdings in Telecom Argentina S.A. (NYSE:TEO)

Wells Fargo & Company MN lowered its holdings in Telecom Argentina S.A. (NYSE:TEO) by 9.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,885 shares of the utilities provider’s stock after selling 1,585 shares during the quarter. Wells Fargo & Company MN’s holdings in Telecom Argentina were worth $200,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Telecom Argentina by 113.3% in the 4th quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 2,081 shares during the period. Advisors Preferred LLC acquired a new position in shares of Telecom Argentina in the fourth quarter valued at $75,000. Atlas Capital Advisors Inc. bought a new position in Telecom Argentina in the fourth quarter worth $106,000. OLD Mission Capital LLC bought a new position in Telecom Argentina in the fourth quarter worth $133,000. Finally, JGP Global Gestao de Recursos Ltda. bought a new stake in Telecom Argentina in the 4th quarter valued at $853,000.

Telecom Argentina Price Performance

NYSE:TEO opened at $10.03 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The firm has a market cap of $4.32 billion, a PE ratio of -55.74 and a beta of 1.28. Telecom Argentina S.A. has a 12 month low of $5.52 and a 12 month high of $15.54. The company’s 50-day moving average price is $10.43 and its two-hundred day moving average price is $11.54.

Telecom Argentina (NYSE:TEO) last announced its earnings results on Friday, February 28th. The utilities provider reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.47) by $0.64. Telecom Argentina had a negative return on equity of 1.26% and a negative net margin of 1.91%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.19 billion. On average, equities analysts anticipate that Telecom Argentina S.A. will post 1.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on TEO. The Goldman Sachs Group upped their target price on shares of Telecom Argentina from $8.30 to $9.50 and gave the company a “sell” rating in a research note on Wednesday, April 23rd. Scotiabank increased their target price on Telecom Argentina from $6.10 to $6.20 and gave the stock a “sector underperform” rating in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. raised Telecom Argentina from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $10.00 to $13.00 in a research note on Tuesday, February 25th.

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.