Triasima Portfolio Management inc. Takes Position in Millicom International Cellular SA $TIGO

Triasima Portfolio Management inc. acquired a new stake in Millicom International Cellular SA (NASDAQ:TIGO) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 91,505 shares of the technology company’s stock, valued at approximately $3,429,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC bought a new stake in Millicom International Cellular in the 2nd quarter valued at about $377,000. KLP Kapitalforvaltning AS increased its position in Millicom International Cellular by 1.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 107,867 shares of the technology company’s stock valued at $4,042,000 after buying an additional 1,800 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in Millicom International Cellular in the 2nd quarter valued at about $11,237,000. USA Financial Formulas bought a new stake in Millicom International Cellular in the 2nd quarter valued at about $30,000. Finally, Janney Montgomery Scott LLC bought a new stake in Millicom International Cellular in the 2nd quarter valued at about $405,000.

Wall Street Analyst Weigh In

TIGO has been the subject of a number of research analyst reports. Zacks Research raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. Wall Street Zen lowered Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 3rd. UBS Group lowered Millicom International Cellular from a “buy” rating to a “neutral” rating and boosted their target price for the company from $39.50 to $49.00 in a research report on Thursday, September 11th. JPMorgan Chase & Co. boosted their target price on Millicom International Cellular from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Finally, Scotiabank boosted their price objective 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 investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.02.

Millicom International Cellular Stock Performance

Shares of TIGO opened at $48.57 on Wednesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89. The stock has a 50 day moving average price of $46.28 and a two-hundred day moving average price of $38.89. The firm has a market capitalization of $8.36 billion, a P/E ratio of 8.57 and a beta of 1.11. Millicom International Cellular SA has a 52 week low of $23.61 and a 52 week high of $50.78.

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

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.