Millennium Management LLC Purchases 157,205 Shares of Millicom International Cellular S.A. (NASDAQ:TIGO)

Millennium Management LLC raised its holdings in shares of Millicom International Cellular S.A. (NASDAQ:TIGO) by 138.9% during the second quarter, according to its most recent filing with the SEC. 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 0.27% of Millicom International Cellular worth $6,638,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Greytown Advisors Inc. increased its holdings in shares of Millicom International Cellular by 91.6% in the 4th quarter. Greytown Advisors Inc. now owns 45,955 shares of the technology company’s stock valued at $827,000 after acquiring an additional 21,965 shares during the period. SG Americas Securities LLC boosted its stake in Millicom International Cellular by 13.1% in the first quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company’s stock valued at $160,000 after acquiring an additional 920 shares in the last quarter. Clifford Capital Partners LLC increased its position in shares of Millicom International Cellular by 8.7% during the first quarter. Clifford Capital Partners LLC now owns 42,867 shares of the technology company’s stock worth $867,000 after purchasing an additional 3,427 shares in the last quarter. Gabelli Funds LLC lifted its holdings in shares of Millicom International Cellular by 17.2% during the 1st quarter. Gabelli Funds LLC now owns 88,833 shares of the technology company’s stock valued at $1,797,000 after purchasing an additional 13,020 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in Millicom International Cellular by 29.5% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 61,784 shares of the technology company’s stock worth $1,250,000 after buying an additional 14,092 shares during the last quarter.

Millicom International Cellular Stock Down 0.9 %

Shares of TIGO opened at $26.56 on Friday. The stock’s 50-day moving average price is $26.49 and its 200-day moving average price is $24.13. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 531.20 and a beta of 1.23. Millicom International Cellular S.A. has a 52 week low of $14.46 and a 52 week high of $28.75.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results 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). Millicom International Cellular had a net margin of 1.83% and a return on equity of 2.91%. The firm had revenue of $1.46 billion for the quarter. During the same period last year, the business posted ($0.13) earnings per share. On average, sell-side analysts predict that Millicom International Cellular S.A. will post 2.33 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on TIGO. Hsbc Global Res downgraded Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $25.00 to $33.00 in a research report on Thursday, August 15th. Scotiabank raised Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $30.00 to $37.30 in a report on Friday, September 20th. HSBC downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, 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 on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Millicom International Cellular currently has an average rating of “Moderate Buy” and an average target price of $30.66.

Millicom International Cellular Profile

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.