Gamco Investors INC. ET AL Sells 8,993 Shares of Millicom International Cellular SA $TIGO

Key Points

• Gamco Investors INC. ET AL reduced its stake in Millicom International Cellular SA by 1.1%, now holding 842,961 shares valued at approximately $25.5 million.
• Several institutional investors have entered new positions in Millicom during the first quarter, with Boston Partners purchasing about $73.3 million worth of shares.
• Analysts have increased target prices for Millicom; Scotiabank raised its target from $37 to $46.10, while Zacks upgraded the stock from "hold" to "strong-buy".

Gamco Investors INC. ET AL trimmed its stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 1.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 842,961 shares of the technology company's stock after selling 8,993 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.49% of Millicom International Cellular worth $25,516,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Cerity Partners LLC grew its holdings in Millicom International Cellular by 4.7% during the first quarter. Cerity Partners LLC now owns 11,208 shares of the technology company's stock worth $339,000 after acquiring an additional 508 shares during the period. Geode Capital Management LLC grew its holdings in Millicom International Cellular by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company's stock worth $3,868,000 after acquiring an additional 1,500 shares during the period. State of Wyoming acquired a new position in Millicom International Cellular during the fourth quarter worth about $49,000. LB Partners LLC increased its stake in Millicom International Cellular by 0.4% in the 1st quarter. LB Partners LLC now owns 520,923 shares of the technology company's stock worth $15,907,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Millicom International Cellular by 72.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock worth $122,000 after buying an additional 2,055 shares during the period.

Millicom International Cellular Stock Performance

TIGO traded down $0.28 on Friday, hitting $48.31. The company had a trading volume of 787,126 shares, compared to its average volume of 1,202,649. The company's fifty day moving average price is $41.08 and its 200 day moving average price is $35.14. Millicom International Cellular SA has a 1-year low of $23.61 and a 1-year high of $48.92. 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 $8.31 billion, a price-to-earnings ratio of 8.52 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 for the quarter, missing the consensus estimate of $0.54 by ($0.03). Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%.The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.40 billion. Equities analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on TIGO shares. JPMorgan Chase & Co. upped their price objective on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. 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. Scotiabank upped their price objective 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, August 19th. UBS Group upped their price objective on shares of Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, Wall Street Zen raised shares of Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 25th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Millicom International Cellular has an average rating of "Moderate Buy" and an average target price of $40.43.

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.