Oaktree Capital Management LP Has $35.24 Million Stake in Telecom Argentina S.A. (NYSE:TEO)

Oaktree Capital Management LP reduced its holdings in Telecom Argentina S.A. (NYSE:TEO) by 9.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,799,263 shares of the utilities provider’s stock after selling 279,825 shares during the period. Oaktree Capital Management LP’s holdings in Telecom Argentina were worth $35,243,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Centiva Capital LP bought a new stake in shares of Telecom Argentina during the 3rd quarter valued at $123,000. Stifel Financial Corp bought a new stake in Telecom Argentina in the third quarter valued at about $91,000. XTX Topco Ltd acquired a new position in Telecom Argentina in the third quarter valued at about $80,000. GAMMA Investing LLC boosted its holdings in Telecom Argentina by 113.3% during the fourth quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock worth $49,000 after buying an additional 2,081 shares during the last quarter. Finally, JGP Global Gestao de Recursos Ltda. bought a new position in Telecom Argentina during the fourth quarter worth about $853,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Telecom Argentina from a “neutral” rating to an “overweight” rating and increased their price target for the company from $10.00 to $13.00 in a research report on Tuesday, February 25th. Scotiabank upped their target price on shares of Telecom Argentina from $6.10 to $6.20 and gave the company a “sector underperform” rating in a research note on Thursday, March 13th.

Telecom Argentina Stock Down 1.2 %

Shares of Telecom Argentina stock opened at $10.46 on Friday. Telecom Argentina S.A. has a 1 year low of $5.52 and a 1 year high of $15.54. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37. The company has a market capitalization of $4.51 billion, a P/E ratio of -58.11 and a beta of 0.99. The business has a 50-day moving average of $11.49 and a two-hundred day moving average of $11.14.

Telecom Argentina (NYSE:TEO) last announced its earnings results on Friday, February 28th. The utilities provider reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.47) by $0.64. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.19 billion. Telecom Argentina had a negative net margin of 1.91% and a negative return on equity of 1.26%. As a group, equities analysts predict that Telecom Argentina S.A. will post 1.28 EPS for the current year.

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.