Westpac Banking Corp cut its position in shares of Telecom Argentina SA (NYSE:TEO) by 7.3% during the second quarter, Holdings Channel reports. The fund owned 33,454 shares of the company’s stock after selling 2,626 shares during the period. Westpac Banking Corp’s holdings in Telecom Argentina SA were worth $613,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. TT International boosted its stake in Telecom Argentina SA by 52.1% in the second quarter. TT International now owns 289,160 shares of the company’s stock worth $5,300,000 after buying an additional 99,085 shares during the last quarter. Global X Management Co. LLC boosted its stake in Telecom Argentina SA by 38.8% in the second quarter. Global X Management Co. LLC now owns 177,081 shares of the company’s stock worth $3,246,000 after buying an additional 49,481 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in Telecom Argentina SA during the second quarter worth about $547,000. John G Ullman & Associates Inc. bought a new stake in Telecom Argentina SA during the second quarter worth about $374,000. Finally, Cambiar Investors LLC bought a new stake in Telecom Argentina SA during the second quarter worth about $372,000. Institutional investors own 8.64% of the company’s stock.
Telecom Argentina SA (NYSE:TEO) opened at 18.74 on Wednesday. The stock’s 50 day moving average price is $18.31 and its 200-day moving average price is $18.44. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 17.51 and a beta of 1.35. Telecom Argentina SA has a one year low of $14.03 and a one year high of $20.28.
A number of equities research analysts have issued reports on TEO shares. Zacks Investment Research upgraded Telecom Argentina SA from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday, August 23rd. TheStreet upgraded Telecom Argentina SA from a “hold” rating to a “buy” rating in a research note on Monday, July 11th. Finally, Morgan Stanley upgraded Telecom Argentina SA from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $18.00 to $23.00 in a research note on Tuesday, September 6th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Telecom Argentina SA presently has an average rating of “Buy” and an average target price of $20.28.
Telecom Argentina SA Company Profile
Telecom Argentina SA provides fixed-line telecommunications services and other telephone-related services, such as international long-distance service, data transmission, information technology (IT) solutions outsourcing and Internet services. The Company provides mobile telecommunications services and international wholesale services.
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