Short Interest in Telecom Argentina SA (NYSE:TEO) Increases By 70.0%

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Telecom Argentina SA (NYSE:TEO) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 1,470,000 shares, a growth of 70.0% from the September 30th total of 864,800 shares. Based on an average daily trading volume, of 317,200 shares, the short-interest ratio is currently 4.6 days. Currently, 1.2% of the shares of the stock are short sold.

A number of equities analysts have commented on the stock. Scotiabank raised shares of Telecom Argentina from an “underperform” rating to a “sector perform” rating and set a $10.00 price objective for the company in a research note on Monday, August 12th. Bank of America cut shares of Telecom Argentina from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $17.00 to $15.00 in a research note on Thursday, August 8th. Zacks Investment Research cut shares of Telecom Argentina from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Finally, ValuEngine cut shares of Telecom Argentina from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Telecom Argentina currently has a consensus rating of “Sell” and a consensus price target of $12.50.

Shares of NYSE:TEO traded down $0.13 on Thursday, reaching $8.64. The company’s stock had a trading volume of 163,917 shares, compared to its average volume of 353,382. Telecom Argentina has a 52-week low of $8.53 and a 52-week high of $18.55. The company has a market cap of $3.89 billion, a P/E ratio of 25.41 and a beta of 0.89. The company has a 50-day simple moving average of $9.81 and a 200 day simple moving average of $13.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.65 and a current ratio of 0.70.

The company also recently declared a Variable dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 21st were paid a dividend of $0.648 per share. The ex-dividend date was Friday, October 18th. This represents a dividend yield of 11.8%. Telecom Argentina’s dividend payout ratio is presently 364.71%.

Several hedge funds have recently added to or reduced their stakes in TEO. KBC Group NV purchased a new position in shares of Telecom Argentina during the 2nd quarter worth about $54,000. Macquarie Group Ltd. purchased a new position in shares of Telecom Argentina during the 2nd quarter worth about $72,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Telecom Argentina during the 2nd quarter worth about $94,000. Cadence Capital Management LLC purchased a new position in shares of Telecom Argentina during the 3rd quarter worth about $110,000. Finally, Marshall Wace North America L.P. boosted its stake in shares of Telecom Argentina by 2,108.8% during the 2nd quarter. Marshall Wace North America L.P. now owns 11,044 shares of the utilities provider’s stock worth $195,000 after purchasing an additional 10,544 shares during the period. 3.71% of the stock is owned by hedge funds and other institutional investors.

About Telecom Argentina

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services in Argentina and internationally. The company 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; information and communication technology services comprising datacenter services, and telecommunications consulting and value-added solutions; and call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing, and maintenance services, as well as sells equipment.

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