Discerene Group LP Sells 180,031 Shares of Telecom Argentina S.A. (NYSE:TEO)

Discerene Group LP lowered its holdings in Telecom Argentina S.A. (NYSE:TEO - Free Report) by 27.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 487,859 shares of the utilities provider's stock after selling 180,031 shares during the period. Telecom Argentina makes up 0.8% of Discerene Group LP's portfolio, making the stock its 9th biggest position. Discerene Group LP owned about 0.11% of Telecom Argentina worth $6,142,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC lifted its position in 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 buying an additional 2,081 shares in the last quarter. Advisors Preferred LLC acquired a new stake in Telecom Argentina during the fourth quarter valued at $75,000. XTX Topco Ltd purchased a new position in Telecom Argentina in the third quarter valued at about $80,000. Stifel Financial Corp acquired a new position in Telecom Argentina in the 3rd quarter worth about $91,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Telecom Argentina during the 4th quarter worth about $106,000.

Telecom Argentina Price Performance

Shares of TEO stock traded down $0.68 during mid-day trading on Wednesday, reaching $8.81. The company's stock had a trading volume of 56,424 shares, compared to its average volume of 206,470. The company has a market cap of $3.79 billion, a P/E ratio of -48.94 and a beta of 0.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.40. Telecom Argentina S.A. has a 1-year low of $5.52 and a 1-year high of $15.53. The firm's 50-day moving average is $11.09 and its two-hundred day moving average is $11.24.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TEO shares. JPMorgan Chase & Co. raised shares of Telecom Argentina from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $10.00 to $13.00 in a research note on Tuesday, February 25th. Scotiabank upped their price target on Telecom Argentina from $6.10 to $6.20 and gave the stock a "sector underperform" rating in a research note on Thursday, March 13th.

Telecom Argentina Company 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.