Freedom Investment Management Inc. Acquires New Holdings in Telecom Argentina S.A. (NYSE:TEO)

Freedom Investment Management Inc. purchased a new position in shares of Telecom Argentina S.A. (NYSE:TEO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 45,817 shares of the utilities provider's stock, valued at approximately $577,000.

Several other hedge funds also recently added to or reduced their stakes in TEO. NewEdge Advisors LLC acquired a new stake in Telecom Argentina during the 4th quarter valued at $202,000. XTX Topco Ltd grew its stake in shares of Telecom Argentina by 64.7% during the fourth quarter. XTX Topco Ltd now owns 17,510 shares of the utilities provider's stock valued at $220,000 after acquiring an additional 6,878 shares in the last quarter. Mariner LLC increased its position in shares of Telecom Argentina by 8.1% during the fourth quarter. Mariner LLC now owns 32,792 shares of the utilities provider's stock worth $413,000 after acquiring an additional 2,467 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in Telecom Argentina in the fourth quarter valued at about $106,000. Finally, OLD Mission Capital LLC purchased a new position in Telecom Argentina in the fourth quarter valued at about $133,000.

Telecom Argentina Stock Performance

Shares of NYSE:TEO traded down $0.43 on Friday, reaching $9.70. 361,188 shares of the company's stock were exchanged, compared to its average volume of 216,783. The business's 50-day moving average is $10.78 and its two-hundred day moving average is $11.45. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. Telecom Argentina S.A. has a fifty-two week low of $5.52 and a fifty-two week high of $15.54. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of -53.89 and a beta of 0.94.

Telecom Argentina (NYSE:TEO - Get Free Report) last released its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.47) by $0.64. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.19 billion. Telecom Argentina had a negative return on equity of 1.26% and a negative net margin of 1.91%. As a group, equities research analysts forecast that Telecom Argentina S.A. will post 1.28 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TEO shares. JPMorgan Chase & Co. upgraded Telecom Argentina from a "neutral" rating to an "overweight" rating and increased their target price for the company from $10.00 to $13.00 in a research note on Tuesday, February 25th. Scotiabank increased their price objective on shares of Telecom Argentina from $6.10 to $6.20 and gave the company a "sector underperform" rating in a research note on Thursday, March 13th. Finally, The Goldman Sachs Group boosted their target price on shares of Telecom Argentina from $8.30 to $9.50 and gave the stock a "sell" rating in a research report on Wednesday.

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.