BNP Paribas Financial Markets Has $170,000 Position in Telecom Argentina S.A. (NYSE:TEO)

BNP Paribas Financial Markets lowered its stake in shares of Telecom Argentina S.A. (NYSE:TEO) by 83.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,504 shares of the utilities provider’s stock after selling 114,190 shares during the quarter. BNP Paribas Financial Markets’ holdings in Telecom Argentina were worth $170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TEO. PFG Investments LLC acquired a new position in Telecom Argentina during the 2nd quarter valued at $104,000. Cubist Systematic Strategies LLC bought a new position in shares of Telecom Argentina during the 2nd quarter worth about $334,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Telecom Argentina during the second quarter valued at about $174,000.

Telecom Argentina Stock Down 3.4 %

Shares of TEO stock opened at $13.34 on Wednesday. Telecom Argentina S.A. has a 12-month low of $5.52 and a 12-month high of $14.78. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average of $11.22 and a 200-day moving average of $8.64. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of -74.11 and a beta of 0.92.

Analysts Set New Price Targets

TEO has been the subject of a number of analyst reports. Scotiabank cut shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and raised their price target for the stock from $5.70 to $6.10 in a research note on Friday, September 20th. The Goldman Sachs Group boosted their target price on Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a report on Wednesday, November 20th. Finally, StockNews.com upgraded Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

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.