Millennium Management LLC Has $6.64 Million Position in Millicom International Cellular S.A. (NASDAQ:TIGO)

Millennium Management LLC grew its stake in Millicom International Cellular S.A. (NASDAQ:TIGO - Free Report) by 138.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 270,373 shares of the technology company's stock after purchasing an additional 157,205 shares during the period. Millennium Management LLC owned approximately 0.27% of Millicom International Cellular worth $6,638,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Renaissance Technologies LLC boosted its position in Millicom International Cellular by 35.4% in the second quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company's stock valued at $7,874,000 after buying an additional 83,939 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Millicom International Cellular in the 1st quarter worth approximately $1,216,000. Cubist Systematic Strategies LLC bought a new stake in Millicom International Cellular during the 2nd quarter worth approximately $884,000. Greytown Advisors Inc. increased its holdings in Millicom International Cellular by 91.6% during the 4th quarter. Greytown Advisors Inc. now owns 45,955 shares of the technology company's stock valued at $827,000 after purchasing an additional 21,965 shares in the last quarter. Finally, Simplicity Wealth LLC bought a new position in Millicom International Cellular in the 2nd quarter valued at $429,000.

Wall Street Analyst Weigh In

Several analysts have recently commented on TIGO shares. Scotiabank upgraded Millicom International Cellular from a "sector perform" rating to a "sector outperform" rating and increased their target price for the stock from $30.00 to $37.30 in a report on Friday, September 20th. HSBC cut shares of Millicom International Cellular from a "buy" rating to a "hold" rating in a research report on Tuesday, July 2nd. UBS Group upgraded shares of Millicom International Cellular from a "neutral" rating to a "buy" rating and upped their target price for the stock from $25.00 to $33.00 in a research report on Thursday, August 15th. JPMorgan Chase & Co. started coverage on shares of Millicom International Cellular in a report on Friday, September 6th. They issued an "overweight" rating and a $35.00 price target for the company. Finally, Hsbc Global Res downgraded Millicom International Cellular from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Millicom International Cellular currently has a consensus rating of "Moderate Buy" and an average price target of $30.66.

Millicom International Cellular Price Performance

NASDAQ TIGO traded up $0.25 during trading hours on Friday, hitting $26.81. The company's stock had a trading volume of 71,074 shares, compared to its average volume of 97,247. The stock has a fifty day moving average of $26.49 and a 200 day moving average of $24.13. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.72. Millicom International Cellular S.A. has a twelve month low of $14.46 and a twelve month high of $28.75.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.05). The company had revenue of $1.46 billion during the quarter. Millicom International Cellular had a return on equity of 2.91% and a net margin of 1.83%. During the same quarter in the prior year, the company earned ($0.13) EPS. As a group, equities analysts predict that Millicom International Cellular S.A. will post 2.33 earnings per share for the current fiscal year.

About Millicom International Cellular

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.