RWC Asset Advisors US LLC Invests $2.21 Million in Telecom Argentina S.A. (NYSE:TEO)

RWC Asset Advisors US LLC purchased a new position in shares of Telecom Argentina S.A. (NYSE:TEO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 309,357 shares of the utilities provider’s stock, valued at approximately $2,212,000. Telecom Argentina accounts for about 0.2% of RWC Asset Advisors US LLC’s investment portfolio, making the stock its 14th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Telecom Argentina by 44.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 457,898 shares of the utilities provider’s stock worth $3,274,000 after purchasing an additional 140,362 shares during the period. Oaktree Capital Management LP increased its position in Telecom Argentina by 20.2% in the 3rd quarter. Oaktree Capital Management LP now owns 2,444,156 shares of the utilities provider’s stock valued at $11,708,000 after acquiring an additional 410,415 shares during the period. Finally, JGP Global Gestao de Recursos Ltda. acquired a new stake in Telecom Argentina in the 3rd quarter valued at approximately $180,000.

Telecom Argentina Stock Up 4.9 %

TEO traded up $0.37 during trading hours on Friday, hitting $7.99. The company’s stock had a trading volume of 266,514 shares, compared to its average volume of 203,030. Telecom Argentina S.A. has a fifty-two week low of $4.50 and a fifty-two week high of $8.87. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 0.70. The company has a 50-day simple moving average of $7.54 and a 200 day simple moving average of $7.11.

Telecom Argentina (NYSE:TEO) last posted its earnings results on Monday, March 11th. The utilities provider reported ($2.16) EPS for the quarter, beating the consensus estimate of ($2.24) by $0.08. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $936.76 million. Telecom Argentina had a negative return on equity of 10.49% and a negative net margin of 13.68%. As a group, equities research analysts expect that Telecom Argentina S.A. will post 0.36 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com cut Telecom Argentina from a “hold” rating to a “sell” rating in a research report on Wednesday.

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.