Dalton Investments Inc. Sells 45,400 Shares of America Movil, S.A.B. de C.V. Unsponsored ADR $AMX

Dalton Investments Inc. lessened its stake in America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX) by 47.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,000 shares of the Wireless communications provider’s stock after selling 45,400 shares during the quarter. America Movil comprises about 0.7% of Dalton Investments Inc.’s investment portfolio, making the stock its 14th largest holding. Dalton Investments Inc.’s holdings in America Movil were worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TrueMark Investments LLC acquired a new stake in shares of America Movil in the 3rd quarter valued at approximately $2,350,000. GAM Holding AG bought a new stake in America Movil in the third quarter valued at approximately $1,619,000. Allworth Financial LP raised its holdings in America Movil by 492.7% in the second quarter. Allworth Financial LP now owns 33,937 shares of the Wireless communications provider’s stock worth $609,000 after purchasing an additional 28,211 shares during the period. Bailard Inc. bought a new position in shares of America Movil during the third quarter worth $1,050,000. Finally, Boston Partners grew its holdings in shares of America Movil by 6,421.7% in the 2nd quarter. Boston Partners now owns 4,127,267 shares of the Wireless communications provider’s stock valued at $74,043,000 after buying an additional 4,063,982 shares during the period. Institutional investors own 6.30% of the company’s stock.

America Movil Trading Up 1.2%

NYSE AMX opened at $23.87 on Friday. America Movil, S.A.B. de C.V. Unsponsored ADR has a 52 week low of $13.10 and a 52 week high of $24.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.76 and a current ratio of 0.81. The stock’s 50 day moving average price is $21.04 and its two-hundred day moving average price is $21.01. The stock has a market capitalization of $71.95 billion, a price-to-earnings ratio of 19.40 and a beta of 0.76.

Analysts Set New Price Targets

Several analysts recently commented on the company. Zacks Research downgraded America Movil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Santander cut America Movil from an “outperform” rating to a “neutral” rating in a report on Friday, December 12th. UBS Group raised their target price on shares of America Movil from $21.10 to $23.60 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Bank of America assumed coverage on shares of America Movil in a report on Thursday, December 11th. They issued a “neutral” rating and a $26.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of America Movil from $21.00 to $23.50 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Two analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.34.

America Movil Profile

América Móvil is a Mexican telecommunications company headquartered in Mexico City that provides a broad range of communications services. Established in the early 2000s out of the expansion of the Slim family’s telecommunications holdings, the company is a major provider of mobile and fixed-line telephony, broadband internet and pay-television services in the region. Its operations span retail consumer services as well as wholesale and enterprise solutions, positioning it as an integrated communications provider across multiple customer segments.

The company markets services under several regional brands—most notably Telcel in Mexico and Claro across many Latin American markets—and offers both prepaid and postpaid mobile plans, fixed and mobile broadband, fiber-to-the-home where available, and video/broadcast distribution services.