Telecom Argentina (NYSE:TEO) Shares Up 4.1%

Shares of Telecom Argentina S.A. (NYSE:TEO) traded up 4.1% on Wednesday . The company traded as high as $7.37 and last traded at $7.36. 64,585 shares were traded during mid-day trading, a decline of 66% from the average session volume of 190,566 shares. The stock had previously closed at $7.07.

Analysts Set New Price Targets

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

Telecom Argentina Trading Up 0.2 %

The company has a quick ratio of 0.47, a current ratio of 0.50 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $6.87 and its 200-day moving average price is $7.52. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 180.38 and a beta of 0.93.

Institutional Trading of Telecom Argentina

Several large investors have recently made changes to their positions in the company. RWC Asset Management LLP acquired a new position in Telecom Argentina during the fourth quarter worth $2,657,000. RWC Asset Advisors US LLC purchased a new position in Telecom Argentina in the fourth quarter worth approximately $2,212,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Telecom Argentina by 44.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 457,898 shares of the utilities provider’s stock worth $3,274,000 after purchasing an additional 140,362 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Telecom Argentina in the second quarter valued at $334,000. Finally, Jump Financial LLC raised its stake in Telecom Argentina by 209.1% in the fourth quarter. Jump Financial LLC now owns 42,816 shares of the utilities provider’s stock valued at $306,000 after buying an additional 28,964 shares in the last quarter.

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.