Schroder Investment Management Group Trims Holdings in Telecom Argentina SA (TEO)

Schroder Investment Management Group cut its stake in Telecom Argentina SA (NYSE:TEO) by 65.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 302,338 shares of the utilities provider’s stock after selling 564,716 shares during the period. Schroder Investment Management Group owned approximately 0.16% of Telecom Argentina worth $5,920,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TEO. Northern Trust Corp boosted its holdings in Telecom Argentina by 21.0% in the 1st quarter. Northern Trust Corp now owns 65,054 shares of the utilities provider’s stock valued at $2,038,000 after purchasing an additional 11,278 shares during the period. BlackRock Inc. lifted its holdings in shares of Telecom Argentina by 45.3% during the 1st quarter. BlackRock Inc. now owns 1,168,176 shares of the utilities provider’s stock worth $36,600,000 after acquiring an additional 363,970 shares during the period. Barclays PLC lifted its holdings in shares of Telecom Argentina by 5,115.2% during the 1st quarter. Barclays PLC now owns 7,875 shares of the utilities provider’s stock worth $247,000 after acquiring an additional 7,724 shares during the period. Guggenheim Capital LLC lifted its holdings in shares of Telecom Argentina by 587.1% during the 1st quarter. Guggenheim Capital LLC now owns 103,518 shares of the utilities provider’s stock worth $3,243,000 after acquiring an additional 88,453 shares during the period. Finally, Millennium Management LLC bought a new position in shares of Telecom Argentina during the 1st quarter worth about $7,896,000. 7.83% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on TEO shares. TheStreet downgraded shares of Telecom Argentina from a “b-” rating to a “c” rating in a report on Monday, July 16th. HSBC raised shares of Telecom Argentina from a “reduce” rating to a “hold” rating in a report on Thursday, June 28th. ValuEngine raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a report on Friday, September 7th. Zacks Investment Research raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. Finally, Bank of America downgraded shares of Telecom Argentina from a “buy” rating to a “neutral” rating in a report on Friday, September 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Telecom Argentina presently has an average rating of “Hold” and a consensus target price of $44.50.

NYSE:TEO opened at $17.31 on Friday. The stock has a market cap of $3.38 billion, a PE ratio of 7.24 and a beta of 1.21. Telecom Argentina SA has a 52 week low of $15.26 and a 52 week high of $40.19. The company has a quick ratio of 0.44, a current ratio of 0.47 and a debt-to-equity ratio of 0.23.

Telecom Argentina (NYSE:TEO) last released its quarterly earnings data on Wednesday, August 8th. The utilities provider reported ($0.85) EPS for the quarter. The business had revenue of $1.45 billion for the quarter. Telecom Argentina had a return on equity of 1.25% and a net margin of 0.92%. On average, equities research analysts expect that Telecom Argentina SA will post -0.82 EPS for the current year.

Telecom Argentina Company Profile

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services in Argentina and internationally. The company operates through three segments: Fixed Services, Personal Mobile Services, and Núcleo Mobile Services. It offers telephone services, including local, domestic, and international long-distance telephone services, as well as public telephone services; interconnection services, such as access, termination, and long-distance transport of calls; and data transmission and Internet services comprising broadband, Internet dedicated lines, private networks, national and international video streaming, transportation of radio and TV signals, and video conferencing services.

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Institutional Ownership by Quarter for Telecom Argentina (NYSE:TEO)

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