Connor Clark & Lunn Investment Management Ltd. Takes Position in Millicom International Cellular SA $TIGO

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 28,788 shares of the technology company's stock, valued at approximately $871,000.

A number of other institutional investors have also recently made changes to their positions in TIGO. Hosking Partners LLP bought a new position in shares of Millicom International Cellular in the 1st quarter valued at about $16,080,000. Swiss National Bank bought a new position in shares of Millicom International Cellular in the 1st quarter valued at about $6,091,000. Deutsche Bank AG bought a new position in shares of Millicom International Cellular in the 1st quarter valued at about $20,385,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Millicom International Cellular by 36.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 218,236 shares of the technology company's stock valued at $6,606,000 after acquiring an additional 58,569 shares during the last quarter. Finally, Fourth Sail Capital LP bought a new position in shares of Millicom International Cellular in the 1st quarter valued at about $6,923,000.

Millicom International Cellular Stock Up 1.3%

NASDAQ TIGO traded up $0.6140 on Friday, hitting $46.8740. The stock had a trading volume of 322,502 shares, compared to its average volume of 921,386. Millicom International Cellular SA has a 52-week low of $23.61 and a 52-week high of $46.95. The business's fifty day moving average price is $39.78 and its 200 day moving average price is $34.21. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.87. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 8.27 and a beta of 1.04.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.03). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. Equities research analysts anticipate that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group raised their price objective on shares of Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a research note on Friday, May 16th. Scotiabank lifted their price target on shares of Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a research note on Tuesday. Wall Street Zen downgraded shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. JPMorgan Chase & Co. boosted their price objective on shares of Millicom International Cellular from $50.00 to $55.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, Zacks Research raised shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.43.

About Millicom International Cellular

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.