First Trust Advisors LP Purchases 347,448 Shares of Millicom International Cellular SA $TIGO

Key Points

• First Trust Advisors LP increased its stake in Millicom by 55.9%, acquiring 347,448 shares to hold 969,140 shares (~0.56% of the company) worth about $47.0 million at quarter end.
• Millicom posted a strong quarter, beating estimates with $1.50 EPS (vs. $1.05 est.) and $1.65 billion in revenue (vs. $1.49 billion), with revenue up 15.7% year‑over‑year and a net margin of 22.62%.
• Analyst sentiment is mixed: the consensus rating is Hold with a $59.33 target, while individual price targets range from about $43 (Scotiabank) to $70 (UBS) and ratings include buys, holds and sells.

First Trust Advisors LP grew its position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 55.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 969,140 shares of the technology company's stock after acquiring an additional 347,448 shares during the quarter. First Trust Advisors LP owned about 0.56% of Millicom International Cellular worth $47,042,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TIGO. Smartleaf Asset Management LLC increased its stake in Millicom International Cellular by 155.4% during the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company's stock worth $25,000 after acquiring an additional 314 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Millicom International Cellular in the 3rd quarter valued at approximately $26,000. Alpine Bank Wealth Management purchased a new position in shares of Millicom International Cellular in the 3rd quarter worth approximately $28,000. Ameritas Advisory Services LLC purchased a new position in shares of Millicom International Cellular in the 3rd quarter worth approximately $32,000. Finally, CWM LLC bought a new position in shares of Millicom International Cellular during the 3rd quarter valued at approximately $42,000.

Millicom International Cellular Price Performance

Shares of TIGO stock opened at $71.12 on Thursday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.88 and a quick ratio of 0.86. The company has a market capitalization of $12.24 billion, a P/E ratio of 9.06 and a beta of 0.90. The company's 50-day simple moving average is $62.96 and its two-hundred day simple moving average is $54.40. Millicom International Cellular SA has a one year low of $26.35 and a one year high of $75.25.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on TIGO shares. Scotiabank downgraded Millicom International Cellular from a "sector perform" rating to a "sector underperform" rating and lowered their price target for the stock from $46.80 to $43.00 in a research report on Wednesday, February 11th. UBS Group upgraded shares of Millicom International Cellular from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $49.00 to $70.00 in a research report on Thursday, January 15th. JPMorgan Chase & Co. raised their target price on shares of Millicom International Cellular from $55.00 to $63.00 and gave the stock an "overweight" rating in a report on Monday, November 17th. Zacks Research cut shares of Millicom International Cellular from a "hold" rating to a "strong sell" rating in a research note on Friday, March 6th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $59.33.

About Millicom International Cellular

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.