Kingswood Wealth Advisors LLC Acquires New Stake in Millicom International Cellular SA $TIGO

Key Points

• Kingswood Wealth Advisors LLC has acquired a new stake in Millicom International Cellular, purchasing 10,067 shares valued at approximately $377,000 during the second quarter.
• Millicom's recent quarterly earnings report showed $0.51 earnings per share, which was below analysts' expectations of $0.54, amid revenues of $1.37 billion compared to an estimated $1.40 billion.
• In analyst ratings, Millicom was upgraded to a "strong-buy" by Wall Street Zen, while Zacks downgraded it from "strong-buy" to "hold".

Kingswood Wealth Advisors LLC acquired a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,067 shares of the technology company's stock, valued at approximately $377,000.

Several other institutional investors have also bought and sold shares of TIGO. Dodge & Cox purchased a new position in Millicom International Cellular in the first quarter valued at approximately $263,401,000. Price T Rowe Associates Inc. MD lifted its position in shares of Millicom International Cellular by 5,033.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,578,894 shares of the technology company's stock worth $168,874,000 after acquiring an additional 5,470,214 shares in the last quarter. Swedbank AB purchased a new stake in shares of Millicom International Cellular during the first quarter worth $85,909,000. Boston Partners purchased a new stake in shares of Millicom International Cellular during the first quarter worth $73,286,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Millicom International Cellular during the first quarter worth $50,664,000.

Millicom International Cellular Stock Up 0.6%

TIGO opened at $47.62 on Friday. The business's fifty day simple moving average is $46.73 and its 200 day simple moving average is $39.19. Millicom International Cellular SA has a 52 week low of $23.61 and a 52 week high of $50.78. The stock has a market cap of $8.20 billion, a PE ratio of 8.40 and a beta of 1.11. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings data 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). Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.40 billion. As a group, research analysts expect that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TIGO shares. Wall Street Zen upgraded Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Zacks Research cut shares of Millicom International Cellular from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Millicom International Cellular in a report on Wednesday. Scotiabank upped their price target on shares of Millicom International Cellular from $37.00 to $46.10 and gave the stock a "sector perform" rating in a report on Tuesday, August 19th. Finally, UBS Group cut shares of Millicom International Cellular from a "buy" rating to a "neutral" rating and upped their price target for the stock from $39.50 to $49.00 in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Millicom International Cellular currently has an average rating of "Moderate Buy" and a consensus target price of $42.02.

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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