Telecom Argentina (NYSE:TEO) Shares Gap Down to $4.86

Telecom Argentina S.A. (NYSE:TEOGet Rating)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $4.86, but opened at $4.73. Telecom Argentina shares last traded at $4.71, with a volume of 200 shares trading hands.

Separately, StockNews.com upgraded Telecom Argentina from a “hold” rating to a “buy” rating in a research note on Monday, May 23rd.

The stock has a 50 day simple moving average of $5.39 and a 200-day simple moving average of $5.33. The firm has a market cap of $2.03 billion, a PE ratio of 9.92 and a beta of 0.46. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.46 and a quick ratio of 0.45.

The business also recently disclosed a — dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Monday, June 27th will be paid a dividend of $0.3139 per share. This represents a yield of 26%. The ex-dividend date is Friday, June 24th. Telecom Argentina’s payout ratio is 81.63%.

A number of large investors have recently made changes to their positions in TEO. Schonfeld Strategic Advisors LLC increased its holdings in shares of Telecom Argentina by 3.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 73,500 shares of the utilities provider’s stock worth $363,000 after purchasing an additional 2,600 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Telecom Argentina in the 4th quarter worth $107,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Telecom Argentina by 40.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 219,154 shares of the utilities provider’s stock worth $1,118,000 after purchasing an additional 63,423 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Telecom Argentina by 305.2% in the 4th quarter. BNP Paribas Arbitrage SA now owns 230,266 shares of the utilities provider’s stock worth $1,174,000 after purchasing an additional 173,445 shares in the last quarter. Finally, MQS Management LLC bought a new stake in shares of Telecom Argentina in the 4th quarter worth $68,000. Institutional investors and hedge funds own 2.28% of the company’s stock.

About Telecom Argentina (NYSE:TEO)

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; and other related supplementary services, such as call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing, and maintenance services.

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