Millennium Management LLC lifted its stake in Telecom Argentina SA (NYSE:TEO) by 82.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 249,304 shares of the utilities provider’s stock after acquiring an additional 112,380 shares during the period. Millennium Management LLC’s holdings in Telecom Argentina were worth $3,879,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Oaktree Capital Management LP boosted its stake in Telecom Argentina by 31.8% during the fourth quarter. Oaktree Capital Management LP now owns 939,000 shares of the utilities provider’s stock valued at $14,611,000 after buying an additional 226,500 shares during the period. Wells Fargo & Company MN boosted its stake in Telecom Argentina by 52.8% during the third quarter. Wells Fargo & Company MN now owns 36,813 shares of the utilities provider’s stock valued at $641,000 after buying an additional 12,717 shares during the period. Jane Street Group LLC bought a new stake in Telecom Argentina during the third quarter valued at $270,000. Squarepoint Ops LLC bought a new stake in Telecom Argentina during the fourth quarter valued at $341,000. Finally, Newfoundland Capital Management boosted its stake in Telecom Argentina by 32.7% during the fourth quarter. Newfoundland Capital Management now owns 1,011,662 shares of the utilities provider’s stock valued at $15,741,000 after buying an additional 249,109 shares during the period. 6.67% of the stock is owned by hedge funds and other institutional investors.

NYSE:TEO opened at $14.95 on Thursday. The firm has a market cap of $2.80 billion, a P/E ratio of 43.97, a price-to-earnings-growth ratio of 2.74 and a beta of 0.84. Telecom Argentina SA has a 52-week low of $13.31 and a 52-week high of $31.16. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.58.

Telecom Argentina (NYSE:TEO) last released its quarterly earnings results on Friday, March 8th. The utilities provider reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.96. Telecom Argentina had a return on equity of 0.33% and a net margin of 0.33%. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.08 billion. Equities research analysts anticipate that Telecom Argentina SA will post 0.95 EPS for the current year.

Several equities research analysts recently issued reports on TEO shares. Zacks Investment Research raised Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Friday, April 12th. ValuEngine lowered Telecom Argentina from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Santander raised Telecom Argentina from an “underperform” rating to a “hold” rating in a research note on Friday, December 21st. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has an average rating of “Hold”.

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

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