Hennessy Advisors Inc. Buys Shares of 299,900 Millicom International Cellular SA $TIGO

Key Points

• Hennessy Advisors Inc. acquired a new stake in Millicom International Cellular SA, purchasing 299,900 shares valued at approximately $11.24 million during the 2nd quarter.
• Millicom's stock has received a mix of ratings from analysts, with a consensus rating of "Moderate Buy" and a price target of $42.02.
• Despite reporting earnings per share of $0.51, Millicom missed analysts' expectations of $0.54, alongside revenues of $1.37 billion, also falling short of projections.

Hennessy Advisors Inc. bought a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 299,900 shares of the technology company's stock, valued at approximately $11,237,000. Hennessy Advisors Inc. owned about 0.17% of Millicom International Cellular as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Millicom International Cellular by 5.0% during the first 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 during the last quarter. Cerity Partners LLC boosted its stake in shares of Millicom International Cellular by 4.7% during the first quarter. Cerity Partners LLC now owns 11,208 shares of the technology company's stock valued at $339,000 after acquiring an additional 508 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Millicom International Cellular during the second quarter valued at $30,000. LB Partners LLC boosted its stake in shares of Millicom International Cellular by 0.4% during the first quarter. LB Partners LLC now owns 520,923 shares of the technology company's stock valued at $15,907,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Millicom International Cellular by 65.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock valued at $190,000 after acquiring an additional 2,489 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TIGO. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Millicom International Cellular in a research note on Saturday, September 27th. JPMorgan Chase & Co. increased their price objective on 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 Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. UBS Group lowered Millicom International Cellular from a "buy" rating to a "neutral" rating and increased their price objective for the company from $39.50 to $49.00 in a research note on Thursday, September 11th. Finally, Wall Street Zen downgraded Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Millicom International Cellular has a consensus rating of "Moderate Buy" and a consensus price target of $42.02.

Millicom International Cellular Stock Performance

NASDAQ TIGO opened at $48.15 on Friday. The business's 50-day moving average price is $45.93 and its 200 day moving average price is $38.59. Millicom International Cellular SA has a twelve month low of $23.61 and a twelve month high of $50.78. The company has a market capitalization of $8.29 billion, a PE ratio of 8.49 and a beta of 1.11. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.59.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released 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). The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.40 billion. Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%. On average, research analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular Company 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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