Oaktree Capital Management LP Sells 279,825 Shares of Telecom Argentina S.A. (NYSE:TEO)

Oaktree Capital Management LP reduced its position in shares of Telecom Argentina S.A. (NYSE:TEO) by 9.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,799,263 shares of the utilities provider’s stock after selling 279,825 shares during the period. Oaktree Capital Management LP owned 0.65% of Telecom Argentina worth $35,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JGP Global Gestao de Recursos Ltda. bought a new stake in Telecom Argentina during the fourth quarter valued at about $853,000. Centiva Capital LP acquired a new position in shares of Telecom Argentina during the 3rd quarter worth about $123,000. Stifel Financial Corp bought a new stake in Telecom Argentina during the 3rd quarter valued at approximately $91,000. XTX Topco Ltd acquired a new stake in Telecom Argentina in the 3rd quarter valued at approximately $80,000. Finally, Advisors Preferred LLC bought a new position in Telecom Argentina in the 4th quarter worth approximately $75,000.

Telecom Argentina Price Performance

Shares of TEO stock opened at $10.46 on Friday. Telecom Argentina S.A. has a 12 month low of $5.52 and a 12 month high of $15.54. The company has a market capitalization of $4.51 billion, a P/E ratio of -58.11 and a beta of 0.99. The stock has a 50 day moving average of $11.49 and a two-hundred day moving average of $11.14. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31.

Telecom Argentina (NYSE:TEO) last issued its earnings results on Friday, February 28th. The utilities provider reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.47) by $0.64. Telecom Argentina had a negative return on equity of 1.26% and a negative net margin of 1.91%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.19 billion. As a group, equities analysts expect that Telecom Argentina S.A. will post 1.28 EPS for the current year.

Analysts Set New Price Targets

TEO has been the subject of several research reports. JPMorgan Chase & Co. raised Telecom Argentina from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $10.00 to $13.00 in a research report on Tuesday, February 25th. Scotiabank increased their price target on shares of Telecom Argentina from $6.10 to $6.20 and gave the company a “sector underperform” rating in a report on Thursday, March 13th.

About Telecom Argentina

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.