67,751 Shares in Telecom Argentina S.A. (NYSE:TEO) Purchased by JGP Global Gestao de Recursos Ltda.

JGP Global Gestao de Recursos Ltda. bought a new position in shares of Telecom Argentina S.A. (NYSE:TEO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 67,751 shares of the utilities provider's stock, valued at approximately $853,000. Telecom Argentina makes up about 1.9% of JGP Global Gestao de Recursos Ltda.'s investment portfolio, making the stock its 7th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in TEO. GAMMA Investing LLC grew its position in Telecom Argentina by 113.3% during the 4th quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider's stock worth $49,000 after purchasing an additional 2,081 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Telecom Argentina during the third quarter worth about $80,000. Stifel Financial Corp acquired a new position in Telecom Argentina in the 3rd quarter valued at about $91,000. Centiva Capital LP acquired a new position in Telecom Argentina in the 3rd quarter valued at about $123,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Telecom Argentina during the 2nd quarter valued at approximately $174,000.

Telecom Argentina Stock Performance

NYSE TEO traded up $0.66 on Thursday, hitting $12.29. 116,920 shares of the company's stock were exchanged, compared to its average volume of 250,059. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of -68.25 and a beta of 0.92. The firm's 50-day moving average price is $12.93 and its two-hundred day moving average price is $10.04. Telecom Argentina S.A. has a fifty-two week low of $5.52 and a fifty-two week high of $15.53. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on Telecom Argentina from $7.30 to $8.30 and gave the company a "sell" rating in a research note on Wednesday, November 20th. StockNews.com upgraded shares of Telecom Argentina from a "sell" rating to a "hold" rating in a research 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.