Telecom Argentina (NYSE:TEO) Trading Down 6%

Shares of Telecom Argentina S.A. (NYSE:TEO) were down 6% during mid-day trading on Thursday . The company traded as low as $6.89 and last traded at $6.91. Approximately 125,024 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 191,374 shares. The stock had previously closed at $7.35.

Wall Street Analyst Weigh In

TEO has been the topic of several recent research reports. Scotiabank upgraded shares of Telecom Argentina from a “sector underperform” rating to a “sector perform” rating in a research report on Tuesday, August 6th. StockNews.com upgraded shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Wednesday, June 5th.

Telecom Argentina Stock Down 6.1 %

The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 172.50 and a beta of 0.93. The stock’s 50 day moving average is $6.89 and its 200 day moving average is $7.52. The company has a quick ratio of 0.47, a current ratio of 0.50 and a debt-to-equity ratio of 0.40.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Oaktree Capital Management LP grew its position in Telecom Argentina by 0.4% in the fourth quarter. Oaktree Capital Management LP now owns 2,454,156 shares of the utilities provider’s stock worth $17,547,000 after buying an additional 10,000 shares during the last quarter. RWC Asset Management LLP acquired a new position in shares of Telecom Argentina in the 4th quarter worth $2,657,000. RWC Asset Advisors US LLC acquired a new stake in shares of Telecom Argentina during the fourth quarter worth $2,212,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Telecom Argentina during the second quarter valued at $334,000. Finally, Jump Financial LLC boosted its position in shares of Telecom Argentina by 209.1% in the 4th quarter. Jump Financial LLC now owns 42,816 shares of the utilities provider’s stock valued at $306,000 after purchasing an additional 28,964 shares during the period.

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.