GAMMA Investing LLC Grows Stock Holdings in Telecom Argentina S.A. (NYSE:TEO)

GAMMA Investing LLC increased its stake in shares of Telecom Argentina S.A. (NYSE:TEO) by 113.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,917 shares of the utilities provider’s stock after acquiring an additional 2,081 shares during the period. GAMMA Investing LLC’s holdings in Telecom Argentina were worth $49,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of TEO. Cubist Systematic Strategies LLC purchased a new stake in shares of Telecom Argentina in the second quarter valued at about $334,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Telecom Argentina in the second quarter valued at about $174,000. Centiva Capital LP purchased a new stake in shares of Telecom Argentina in the third quarter valued at about $123,000. Stifel Financial Corp purchased a new stake in shares of Telecom Argentina in the third quarter valued at about $91,000. Finally, XTX Topco Ltd purchased a new stake in shares of Telecom Argentina in the third quarter valued at about $80,000.

Telecom Argentina Stock Performance

Shares of TEO opened at $12.76 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.40. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of -70.88 and a beta of 0.93. The company’s 50 day simple moving average is $12.93 and its 200 day simple moving average is $9.39. Telecom Argentina S.A. has a 1 year low of $5.52 and a 1 year high of $15.53.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TEO. Scotiabank downgraded shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and upped their price target for the company from $5.70 to $6.10 in a report on Friday, September 20th. The Goldman Sachs Group upped their price objective on shares of Telecom Argentina from $7.30 to $8.30 and gave the company a “sell” rating in a research note on Wednesday, November 20th. Finally, StockNews.com raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th.

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.