Shares of Telecom Argentina S.A. (NYSE:TEO) gapped down before the market opened on Thursday . The stock had previously closed at $5.17, but opened at $5.03. Telecom Argentina shares last traded at $5.06, with a volume of 800 shares traded.
Separately, Zacks Investment Research upgraded shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Friday, June 11th.
The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.56 and a current ratio of 0.60. The firm has a 50 day simple moving average of $5.43.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Telecom Argentina by 1.4% in the first quarter. BlackRock Inc. now owns 3,432,055 shares of the utilities provider’s stock valued at $18,944,000 after acquiring an additional 47,057 shares in the last quarter. Eaton Vance Management acquired a new position in Telecom Argentina in the fourth quarter valued at $2,781,000. Nuveen Asset Management LLC boosted its stake in Telecom Argentina by 2.7% in the fourth quarter. Nuveen Asset Management LLC now owns 131,613 shares of the utilities provider’s stock valued at $863,000 after acquiring an additional 3,437 shares in the last quarter. SG Americas Securities LLC boosted its stake in Telecom Argentina by 4.9% in the first quarter. SG Americas Securities LLC now owns 106,912 shares of the utilities provider’s stock valued at $590,000 after acquiring an additional 4,965 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in Telecom Argentina by 61.2% in the fourth quarter. Citigroup Inc. now owns 32,629 shares of the utilities provider’s stock valued at $215,000 after acquiring an additional 12,390 shares in the last quarter. Institutional investors own 3.74% of the company’s stock.
About Telecom Argentina (NYSE:TEO)
Telecom Argentina SA, together with its subsidiaries, provides telecommunications services in Argentina and internationally. The company offers telephone services, including local, domestic, and international long-distance telephone services, as well as public telephone services; interconnection services, such as traffic and interconnection resource, dedicated Internet access, video signals transportation in standard and high definitions, audio and video streaming, dedicated links, backhaul links for mobile operators, Internet protocol virtual private network, video links, value-added, data center hosting/housing, and other services; and call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing, and maintenance services.
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