Millicom International Cellular SA $TIGO Shares Purchased by Perpetual Ltd

Perpetual Ltd raised its position in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 5,283.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,731,971 shares of the technology company’s stock after acquiring an additional 2,681,221 shares during the period. Millicom International Cellular makes up 1.6% of Perpetual Ltd’s portfolio, making the stock its 17th biggest position. Perpetual Ltd’s holdings in Millicom International Cellular were worth $132,610,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. USA Financial Formulas acquired a new position in shares of Millicom International Cellular in the 2nd quarter valued at about $30,000. Carolina Wealth Advisors LLC acquired a new position in Millicom International Cellular during the third quarter valued at approximately $59,000. EverSource Wealth Advisors LLC lifted its position in Millicom International Cellular by 55.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock valued at $53,000 after buying an additional 502 shares in the last quarter. State of Wyoming grew its stake in Millicom International Cellular by 123.4% during the second quarter. State of Wyoming now owns 4,655 shares of the technology company’s stock worth $174,000 after buying an additional 2,571 shares during the period. Finally, Orion Porfolio Solutions LLC acquired a new stake in shares of Millicom International Cellular in the second quarter worth $201,000.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TIGO shares. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Scotiabank upped their target price on Millicom International Cellular from $46.10 to $46.80 and gave the stock a “sector perform” rating in a research report on Friday, November 7th. UBS Group downgraded Millicom International Cellular from a “buy” rating to a “neutral” rating and raised their target price for the company from $39.50 to $49.00 in a report on Thursday, September 11th. Finally, Wall Street Zen raised Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.47.

Millicom International Cellular Stock Performance

NASDAQ:TIGO opened at $53.73 on Friday. The firm has a 50-day moving average of $50.22 and a two-hundred day moving average of $45.30. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.93 and a quick ratio of 0.91. The stock has a market cap of $9.25 billion, a P/E ratio of 8.23 and a beta of 0.93. Millicom International Cellular SA has a 1-year low of $23.61 and a 1-year high of $56.27.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Thursday, November 6th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21). The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Millicom International Cellular had a return on equity of 10.81% and a net margin of 19.58%.The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts expect that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg?headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high?speed internet access and pay?television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi?regional operator focused primarily on Central and South America.