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

BNP Paribas Financial Markets lessened its stake in shares of Telecom Argentina S.A. (NYSE:TEO) by 83.5% in the third quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in Telecom Argentina during the second quarter worth about $334,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Telecom Argentina in the 2nd quarter valued at approximately $174,000. Finally, PFG Investments LLC acquired a new stake in shares of Telecom Argentina during the 2nd quarter worth approximately $104,000.

Telecom Argentina Price Performance

Shares of NYSE:TEO opened at $13.34 on Wednesday. Telecom Argentina S.A. has a one year low of $5.52 and a one year high of $14.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37. The company has a market cap of $5.75 billion, a price-to-earnings ratio of -74.11 and a beta of 0.92. The firm has a 50 day simple moving average of $11.22 and a 200 day simple moving average of $8.64.

Wall Street Analyst Weigh In

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

Telecom Argentina 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.