Meritage Portfolio Management Acquires Shares of 142,018 Millicom International Cellular SA $TIGO

Key Points

• Meritage Portfolio Management has acquired a new stake of 142,018 shares in Millicom International Cellular, valued at approximately $5,321,000, as disclosed in their recent SEC filing.
• Multiple institutional investors have also shown interest in Millicom, with Zurcher Kantonalbank increasing their stake by 65.6% and other entities purchasing stakes valued between $30,000 and $212,000.
• Analysts have mixed views on Millicom's stock, with recent ratings indicating a shift from "strong-buy" to "hold," and an average target price of $42.02.

Meritage Portfolio Management acquired a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 142,018 shares of the technology company's stock, valued at approximately $5,321,000. Meritage Portfolio Management owned 0.08% of Millicom International Cellular as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of TIGO. USA Financial Formulas purchased a new stake in shares of Millicom International Cellular in the second quarter valued at about $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Millicom International Cellular in the first quarter valued at about $84,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Millicom International Cellular by 65.6% in 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 in the last quarter. EWA LLC purchased a new stake in shares of Millicom International Cellular in the first quarter valued at about $201,000. Finally, Spinnaker Trust purchased a new stake in shares of Millicom International Cellular in the first quarter valued at about $212,000.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TIGO shares. Zacks Research downgraded shares of Millicom International Cellular from a "strong-buy" rating to a "hold" rating in a report on Wednesday. UBS Group downgraded shares of Millicom International Cellular from a "buy" rating to a "neutral" rating and lifted their target price for the company from $39.50 to $49.00 in a report on Thursday, September 11th. JPMorgan Chase & Co. lifted their target price on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Scotiabank lifted their target price on shares of Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a report on Tuesday, August 19th. Finally, Wall Street Zen raised shares of Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a report on Saturday. One 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $42.02.

Millicom International Cellular Stock Up 0.6%

TIGO stock opened at $47.62 on Friday. The company has a market cap of $8.20 billion, a P/E ratio of 8.40 and a beta of 1.11. Millicom International Cellular SA has a 52 week low of $23.61 and a 52 week high of $50.78. The company's 50-day moving average price is $46.73 and its 200 day moving average price is $39.26. 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 quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.03). The company 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 expect that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal 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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