Swedbank AB Makes New $85.91 Million Investment in Millicom International Cellular SA $TIGO

Key Points

• Swedbank AB has acquired a new position in Millicom International Cellular SA, purchasing 2,838,104 shares valued at approximately $85.9 million, which represents about 1.65% ownership in the company.
• The stock of Millicom International Cellular (NASDAQ:TIGO) is currently trading at $47.53, with a 52-week range between $23.61 and $50.78.
• Millicom reported earnings of $0.51 EPS for the last quarter, missing analyst expectations, while the company had a revenue of $1.37 billion, also falling short of forecasts.

Swedbank AB bought a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,838,104 shares of the technology company's stock, valued at approximately $85,909,000. Swedbank AB owned approximately 1.65% of Millicom International Cellular as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TIGO. Lazard Asset Management LLC boosted its stake in shares of Millicom International Cellular by 65.1% in the 4th quarter. Lazard Asset Management LLC now owns 45,789 shares of the technology company's stock valued at $1,145,000 after purchasing an additional 18,059 shares in the last quarter. Occudo Quantitative Strategies LP boosted its stake in shares of Millicom International Cellular by 37.4% in the 4th quarter. Occudo Quantitative Strategies LP now owns 10,983 shares of the technology company's stock valued at $275,000 after purchasing an additional 2,992 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Millicom International Cellular by 422.0% in the 4th quarter. Point72 Asset Management L.P. now owns 16,704 shares of the technology company's stock valued at $418,000 after purchasing an additional 13,504 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Millicom International Cellular in the 4th quarter valued at $248,000. Finally, Southeastern Asset Management Inc. TN acquired a new position in Millicom International Cellular during the 4th quarter worth about $60,306,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TIGO. Wall Street Zen downgraded shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 13th. JPMorgan Chase & Co. upped their price target on shares of Millicom International Cellular from $50.00 to $55.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Scotiabank upped their price target on shares of Millicom International Cellular from $37.00 to $46.10 and gave the stock a "sector perform" rating in a research report on Tuesday, August 19th. Zacks Research upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Finally, UBS Group downgraded shares of Millicom International Cellular from a "buy" rating to a "neutral" rating and upped their price target for the stock from $39.50 to $49.00 in a research report on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.02.

Millicom International Cellular Trading Down 0.8%

NASDAQ:TIGO traded down $0.39 on Thursday, hitting $47.91. 344,166 shares of the stock were exchanged, compared to its average volume of 944,108. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of 8.45 and a beta of 1.09. Millicom International Cellular SA has a 52 week low of $23.61 and a 52 week high of $50.78. 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 company's 50-day moving average price is $43.88 and its 200 day moving average price is $36.96.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). The firm 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%. On average, equities research analysts forecast that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular Company 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.