RWC Asset Advisors US LLC Reduces Holdings in Telecom Argentina S.A. (NYSE:TEO)

RWC Asset Advisors US LLC decreased its stake in shares of Telecom Argentina S.A. (NYSE:TEO) by 23.7% during the fourth quarter, HoldingsChannel reports. The firm owned 835,165 shares of the utilities provider’s stock after selling 259,287 shares during the quarter. Telecom Argentina accounts for approximately 2.1% of RWC Asset Advisors US LLC’s holdings, making the stock its 11th biggest position. RWC Asset Advisors US LLC’s holdings in Telecom Argentina were worth $10,515,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JGP Global Gestao de Recursos Ltda. purchased a new stake in Telecom Argentina in the fourth quarter worth about $853,000. Centiva Capital LP bought a new position in shares of Telecom Argentina in the 3rd quarter worth approximately $123,000. Stifel Financial Corp purchased a new position in shares of Telecom Argentina in the 3rd quarter valued at approximately $91,000. XTX Topco Ltd bought a new stake in shares of Telecom Argentina during the third quarter valued at approximately $80,000. Finally, Advisors Preferred LLC purchased a new stake in Telecom Argentina in the fourth quarter worth $75,000.

Wall Street Analyst Weigh In

Several brokerages have commented on TEO. The Goldman Sachs Group raised their price objective on Telecom Argentina from $7.30 to $8.30 and gave the company a “sell” rating in a research report on Wednesday, November 20th. StockNews.com raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

Telecom Argentina Stock Performance

Telecom Argentina stock opened at $11.62 on Monday. Telecom Argentina S.A. has a twelve month low of $5.52 and a twelve month high of $15.53. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $5.00 billion, a P/E ratio of -64.54 and a beta of 0.92. The stock’s 50 day moving average is $12.45 and its 200 day moving average is $10.49.

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.