Telecom Argentina (TEO) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in shares of Telecom Argentina (NYSE:TEO) by 72.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,105 shares of the utilities provider’s stock after purchasing an additional 1,729 shares during the period. Envestnet Asset Management Inc.’s holdings in Telecom Argentina were worth $150,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Acadian Asset Management LLC raised its position in Telecom Argentina by 41.1% during the fourth quarter. Acadian Asset Management LLC now owns 1,235,429 shares of the utilities provider’s stock valued at $45,254,000 after purchasing an additional 359,665 shares in the last quarter. BlackRock Inc. grew its stake in shares of Telecom Argentina by 47.6% during the fourth quarter. BlackRock Inc. now owns 804,206 shares of the utilities provider’s stock worth $29,458,000 after buying an additional 259,385 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Telecom Argentina by 1,305.7% during the fourth quarter. William Blair Investment Management LLC now owns 786,395 shares of the utilities provider’s stock worth $28,806,000 after buying an additional 730,451 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of Telecom Argentina during the fourth quarter worth $28,380,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Telecom Argentina by 36.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 395,991 shares of the utilities provider’s stock worth $14,505,000 after buying an additional 105,709 shares during the last quarter. Institutional investors and hedge funds own 8.17% of the company’s stock.

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NYSE TEO opened at $30.52 on Friday. The firm has a market cap of $5,944.83, a price-to-earnings ratio of 12.77, a P/E/G ratio of 1.01 and a beta of 1.13. Telecom Argentina has a fifty-two week low of $22.34 and a fifty-two week high of $40.19. The company has a current ratio of 0.83, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38.

The business also recently announced a special dividend, which was paid on Wednesday, March 28th. Shareholders of record on Tuesday, March 20th were paid a dividend of $0.7874 per share. This represents a dividend yield of 4.36%. The ex-dividend date of this dividend was Monday, March 19th. This is a boost from Telecom Argentina’s previous special dividend of $0.37. Telecom Argentina’s payout ratio is presently 143.51%.

A number of analysts have weighed in on the stock. HSBC cut shares of Telecom Argentina from a “hold” rating to a “reduce” rating in a research note on Thursday, February 22nd. Zacks Investment Research raised shares of Telecom Argentina from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Saturday, February 3rd. Morgan Stanley cut shares of Telecom Argentina from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, April 3rd. Finally, Citigroup assumed coverage on shares of Telecom Argentina in a research note on Monday, January 8th. They set a “buy” rating and a $46.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $36.75.

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About Telecom Argentina

Telecom Argentina SA provides local and long distance fixed-line telephony, cellular, data transmission, and pay TV and Internet services in Argentina. It also offers cellular services in Paraguay and pay TV services in Uruguay. The company was formerly known as Cablevisión SA and changed its name to Telecom Argentina SA in January 2018.

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

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