Allianz Asset Management GmbH Makes New $1.85 Million Investment in Millicom International Cellular SA $TIGO

Key Points

• Allianz Asset Management GmbH made a new investment of approximately $1.85 million in Millicom International Cellular SA by purchasing 49,367 shares during the second quarter.
• Millicom reported earnings of $0.51 per share for the last quarter, falling short of analysts' expectations of $0.54, and achieved revenue of $1.37 billion against a projection of $1.40 billion.
• Research analysts have adjusted their ratings and price targets for Millicom, with UBS lowering its rating to "neutral," while JPMorgan raised its target from $50.00 to $55.00.

Allianz Asset Management GmbH purchased a new stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 49,367 shares of the technology company's stock, valued at approximately $1,850,000.

A number of other institutional investors have also recently made changes to their positions in TIGO. KBC Group NV purchased a new position in shares of Millicom International Cellular during the 1st quarter valued at $233,000. Spinnaker Trust purchased a new position in shares of Millicom International Cellular during the 1st quarter valued at $212,000. Teacher Retirement System of Texas purchased a new position in shares of Millicom International Cellular during the 1st quarter valued at $1,402,000. Calamos Advisors LLC purchased a new position in shares of Millicom International Cellular during the 1st quarter valued at $642,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Millicom International Cellular during the 1st quarter valued at $1,130,000.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO opened at $47.38 on Friday. The firm has a market capitalization of $8.15 billion, a P/E ratio of 8.36 and a beta of 1.11. 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's 50-day simple moving average is $47.64 and its two-hundred day simple moving average is $40.50. Millicom International Cellular SA has a twelve month low of $23.61 and a twelve month high of $50.78.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.03). The business had revenue of $1.37 billion during 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%. As a group, equities analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on TIGO shares. UBS Group cut Millicom International Cellular from a "buy" rating to a "neutral" rating and upped their price target for the company from $39.50 to $49.00 in a research report on Thursday, September 11th. JPMorgan Chase & Co. upped their price target 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. Weiss Ratings reissued a "buy (b)" rating on shares of Millicom International Cellular in a report on Saturday. Wall Street Zen raised Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 11th. Finally, Scotiabank increased 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. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $42.02.

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.

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