Barclays PLC Increases Stake in Millicom International Cellular SA $TIGO

Key Points

• Barclays PLC increased its stake in Millicom (NASDAQ:TIGO) by 1.7%, owning 2,895,215 shares (about 1.68% of the company) worth roughly $140.5 million after buying an additional 47,194 shares in Q3.
• Analyst sentiment is broadly positive with a MarketBeat consensus of “Moderate Buy” and a $59.33 consensus target; UBS recently upgraded TIGO to a Buy and raised its target to $70, while five analysts rate it Buy, two Hold, and one Sell.
• Millicom reported a strong quarter—EPS $1.50 vs. $1.05 estimate and revenue $1.65B vs. $1.49B—while the stock trades around $69.28 with a market cap of $11.92B, P/E of 8.8, and a 52-week range of $26.35–$75.25.

Barclays PLC raised its position in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,895,215 shares of the technology company's stock after purchasing an additional 47,194 shares during the quarter. Barclays PLC owned 1.68% of Millicom International Cellular worth $140,534,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Segall Bryant & Hamill LLC lifted its stake in shares of Millicom International Cellular by 0.3% in the second quarter. Segall Bryant & Hamill LLC now owns 97,577 shares of the technology company's stock worth $3,656,000 after buying an additional 300 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Millicom International Cellular by 155.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company's stock valued at $25,000 after acquiring an additional 314 shares in the last quarter. AQR Capital Management LLC grew its stake in Millicom International Cellular by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company's stock valued at $290,000 after acquiring an additional 453 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Millicom International Cellular by 32.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,867 shares of the technology company's stock valued at $91,000 after acquiring an additional 454 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in Millicom International Cellular in the 3rd quarter valued at about $26,000.

Analysts Set New Price Targets

A number of equities analysts recently commented on TIGO shares. Zacks Research downgraded Millicom International Cellular from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 16th. UBS Group upgraded Millicom International Cellular from a "neutral" rating to a "buy" rating and upped their target price for the company from $49.00 to $70.00 in a report on Thursday, January 15th. Morgan Stanley reaffirmed a "positive" rating and issued a $55.00 target price on shares of Millicom International Cellular in a research note on Thursday, February 26th. Scotiabank cut shares of Millicom International Cellular from a "sector perform" rating to a "sector underperform" rating and lowered their price target for the company from $46.80 to $43.00 in a research report on Wednesday, February 11th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.33.

Millicom International Cellular Stock Down 2.5%

Shares of NASDAQ TIGO opened at $69.28 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. The business's 50 day moving average is $62.00 and its two-hundred day moving average is $53.88. Millicom International Cellular SA has a 52-week low of $26.35 and a 52-week high of $75.25. The firm has a market cap of $11.92 billion, a price-to-earnings ratio of 8.83 and a beta of 0.90.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The technology company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.05 by $0.45. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the firm posted $0.18 earnings per share. The business's revenue for the quarter was up 15.7% compared to the same quarter last year. Research analysts predict that Millicom International Cellular SA will post 1.91 EPS for the current 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.

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