BNP Paribas Financial Markets trimmed its position in Telecom Argentina S.A. (NYSE:TEO - Free Report) by 83.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,504 shares of the utilities provider's stock after selling 114,190 shares during the quarter. BNP Paribas Financial Markets' holdings in Telecom Argentina were worth $170,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PFG Investments LLC purchased a new position in shares of Telecom Argentina in the second quarter valued at about $104,000. B. Riley Wealth Advisors Inc. bought a new stake in Telecom Argentina during the 2nd quarter valued at approximately $174,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Telecom Argentina in the 2nd quarter worth approximately $334,000.
Telecom Argentina Price Performance
NYSE TEO traded down $0.96 during trading on Wednesday, hitting $12.38. 297,433 shares of the stock traded hands, compared to its average volume of 199,295. 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 12-month low of $5.52 and a 12-month high of $14.78. The firm has a 50-day simple moving average of $11.31 and a 200-day simple moving average of $8.66. The company has a market capitalization of $5.33 billion, a P/E ratio of -68.77 and a beta of 0.92.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on TEO shares. The Goldman Sachs Group increased their price objective on shares of Telecom Argentina from $7.30 to $8.30 and gave the company a "sell" rating in a report on Wednesday, November 20th. Scotiabank cut shares of Telecom Argentina from a "sector perform" rating to a "sector underperform" rating and raised their target price for the company from $5.70 to $6.10 in a research note on Friday, September 20th. Finally, StockNews.com upgraded shares of Telecom Argentina from a "sell" rating to a "hold" rating in a research note on Wednesday, November 20th.
Check Out Our Latest Stock Report on Telecom Argentina
Telecom Argentina Company Profile
(
Free Report)
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.
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