Gabelli Funds LLC Buys 476,400 Shares of Millicom International Cellular SA $TIGO

Gabelli Funds LLC grew its stake in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 3,970.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 488,400 shares of the technology company’s stock after acquiring an additional 476,400 shares during the quarter. Gabelli Funds LLC owned about 0.28% of Millicom International Cellular worth $14,784,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TIGO. Dodge & Cox bought a new stake in shares of Millicom International Cellular during the 1st quarter valued at $263,401,000. Price T Rowe Associates Inc. MD lifted its position in shares of Millicom International Cellular by 5,033.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,578,894 shares of the technology company’s stock valued at $168,874,000 after acquiring an additional 5,470,214 shares during the period. Boston Partners bought a new stake in shares of Millicom International Cellular during the 1st quarter valued at $73,286,000. Southeastern Asset Management Inc. TN bought a new stake in shares of Millicom International Cellular during the 4th quarter valued at $60,306,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Millicom International Cellular during the 1st quarter valued at $22,999,000.

Millicom International Cellular Price Performance

Shares of TIGO opened at $47.65 on Thursday. Millicom International Cellular SA has a 12-month low of $23.61 and a 12-month high of $48.22. The business has a 50-day simple moving average of $40.60 and a two-hundred day simple moving average of $34.79. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. The stock has a market cap of $8.20 billion, a PE ratio of 8.40 and a beta of 1.04.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%.The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.40 billion. Analysts anticipate that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Monday. Zacks Research raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Friday, August 15th. UBS Group boosted their price target on Millicom International Cellular from $31.50 to $39.50 and gave the stock a “buy” rating in a report on Friday, May 16th. JPMorgan Chase & Co. boosted their price target on Millicom International Cellular from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Scotiabank boosted their price target on Millicom International Cellular from $37.00 to $46.10 and gave the stock a “sector perform” rating in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.43.

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.