Brandes Investment Partners LP reduced its stake in Millicom International Cellular S.A. (NASDAQ:TIGO - Free Report) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,509,438 shares of the technology company's stock after selling 57,619 shares during the quarter. Millicom International Cellular makes up 1.4% of Brandes Investment Partners LP's investment portfolio, making the stock its 28th largest holding. Brandes Investment Partners LP owned approximately 4.43% of Millicom International Cellular worth $110,643,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its position in shares of Millicom International Cellular by 217.9% during the 2nd quarter. Signaturefd LLC now owns 1,138 shares of the technology company's stock worth $28,000 after purchasing an additional 780 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of Millicom International Cellular in the second quarter worth $67,000. Summit Securities Group LLC acquired a new stake in shares of Millicom International Cellular in the second quarter worth $98,000. SG Americas Securities LLC increased its position in Millicom International Cellular by 13.1% during the first quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company's stock worth $160,000 after acquiring an additional 920 shares during the period. Finally, AQR Capital Management LLC acquired a new position in Millicom International Cellular during the 2nd quarter valued at $215,000.
Wall Street Analyst Weigh In
TIGO has been the topic of several research reports. JPMorgan Chase & Co. assumed coverage on shares of Millicom International Cellular in a report on Friday, September 6th. They set an "overweight" rating and a $35.00 price objective on the stock. HSBC lowered Millicom International Cellular from a "buy" rating to a "hold" rating in a report on Tuesday, July 2nd. Scotiabank raised Millicom International Cellular from a "sector perform" rating to a "sector outperform" rating and raised their target price for the stock from $30.00 to $37.30 in a research report on Friday, September 20th. UBS Group raised shares of Millicom International Cellular from a "neutral" rating to a "buy" rating and boosted their price target for the company from $25.00 to $33.00 in a report on Thursday, August 15th. Finally, Hsbc Global Res lowered shares of Millicom International Cellular from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Millicom International Cellular currently has an average rating of "Moderate Buy" and a consensus price target of $30.66.
Check Out Our Latest Report on Millicom International Cellular
Millicom International Cellular Trading Down 2.3 %
NASDAQ TIGO traded down $0.64 on Monday, hitting $27.12. The company's stock had a trading volume of 97,579 shares, compared to its average volume of 99,874. The company's 50-day moving average is $26.10 and its 200 day moving average is $23.72. The firm has a market cap of $2.76 billion, a PE ratio of 543.20 and a beta of 1.23. Millicom International Cellular S.A. has a 1-year low of $14.46 and a 1-year high of $28.75. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.72.
Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.05). The firm had revenue of $1.46 billion for the quarter. Millicom International Cellular had a return on equity of 2.91% and a net margin of 1.83%. During the same period in the previous year, the business posted ($0.13) EPS. As a group, analysts predict that Millicom International Cellular S.A. will post 2.33 earnings per share for the current fiscal year.
About Millicom International Cellular
(
Free Report)
Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.
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