Belpointe Asset Management LLC Buys Shares of 66,630 Telecom Argentina SA (TEO)

Belpointe Asset Management LLC bought a new position in Telecom Argentina SA (NYSE:TEO) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 66,630 shares of the utilities provider’s stock, valued at approximately $2,055,000.

Other institutional investors have also recently modified their holdings of the company. Morgan Stanley boosted its holdings in shares of Telecom Argentina by 2.3% during the 1st quarter. Morgan Stanley now owns 159,771 shares of the utilities provider’s stock valued at $3,545,000 after purchasing an additional 3,593 shares during the last quarter. Pictet Asset Management Ltd. purchased a new stake in shares of Telecom Argentina during the 2nd quarter valued at about $114,000. William Blair Investment Management LLC purchased a new stake in shares of Telecom Argentina during the 2nd quarter valued at about $1,499,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Telecom Argentina during the 2nd quarter valued at about $208,000. Finally, Airain ltd purchased a new stake in shares of Telecom Argentina during the 2nd quarter valued at about $402,000. 6.04% of the stock is owned by institutional investors.

Telecom Argentina SA (NYSE:TEO) traded up $0.06 during trading on Wednesday, reaching $37.71. 112,700 shares of the company were exchanged, compared to its average volume of 179,525. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.93 and a quick ratio of 0.84. Telecom Argentina SA has a 12 month low of $17.04 and a 12 month high of $38.54. The stock has a market cap of $7,297.77, a price-to-earnings ratio of 16.51, a P/E/G ratio of 1.58 and a beta of 1.48.

Several brokerages have recently issued reports on TEO. BidaskClub upgraded shares of Telecom Argentina from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. ValuEngine upgraded shares of Telecom Argentina from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research cut shares of Telecom Argentina from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $29.67.

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About Telecom Argentina

Telecom Argentina SA provides fixed-line telecommunications services in Argentina, and also provides other telephone-related services, such as international long-distance service, data transmission, information technology solutions outsourcing and Internet services. The Company’s segments include Fixed Telecommunications Services (Fixed Services), Personal Mobile Telecommunications Services (Personal Mobile Services) and Nucleo Mobile Telecommunications Services (Nucleo Mobile Services).

Institutional Ownership by Quarter for Telecom Argentina (NYSE:TEO)

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