Telecom Argentina (NYSE:TEO) Trading Down 6%

Telecom Argentina S.A. (NYSE:TEO)’s stock price traded down 6% during trading on Thursday . The company traded as low as $6.89 and last traded at $6.91. 125,024 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 191,374 shares. The stock had previously closed at $7.35.

Wall Street Analyst Weigh In

Several research analysts recently commented on TEO shares. Scotiabank upgraded shares of Telecom Argentina from a “sector underperform” rating to a “sector perform” rating in a report on Tuesday, August 6th. StockNews.com raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, June 5th.

Telecom Argentina Trading Up 2.3 %

The company has a current ratio of 0.50, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The stock has a market cap of $3.04 billion, a P/E ratio of 176.25 and a beta of 0.93. The business’s fifty day simple moving average is $6.88 and its 200 day simple moving average is $7.51.

Institutional Trading of Telecom Argentina

Hedge funds have recently modified their holdings of the stock. Oaktree Capital Management LP lifted its holdings in Telecom Argentina by 0.4% during the 4th quarter. Oaktree Capital Management LP now owns 2,454,156 shares of the utilities provider’s stock worth $17,547,000 after buying an additional 10,000 shares in the last quarter. RWC Asset Management LLP bought a new stake in shares of Telecom Argentina during the fourth quarter worth $2,657,000. RWC Asset Advisors US LLC acquired a new position in shares of Telecom Argentina during the fourth quarter valued at $2,212,000. Cubist Systematic Strategies LLC bought a new position in Telecom Argentina in the second quarter valued at about $334,000. Finally, Jump Financial LLC increased its position in Telecom Argentina by 209.1% in the fourth quarter. Jump Financial LLC now owns 42,816 shares of the utilities provider’s stock worth $306,000 after purchasing an additional 28,964 shares during the period.

About Telecom Argentina

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.