Militia Capital Partners LP Buys Shares of 30,000 Millicom International Cellular SA $TIGO

Key Points

• Militia Capital Partners LP acquired a new stake of 30,000 shares in Millicom International Cellular SA, valued at approximately $908,000, during the first quarter of 2023.
• A significant increase in investment interest was noted, with Dodge & Cox purchasing a new stake valued at over $263 million and Price T Rowe Associates expanding their position by over 5,000%.
• Analyst ratings have varied, with JPMorgan Chase & Co. raising their price target from $50 to $55 and multiple reports indicating a mix of ratings, although Millicom has an average rating of "Moderate Buy" with a target price of $42.02.

Militia Capital Partners LP acquired a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 30,000 shares of the technology company's stock, valued at approximately $908,000.

Other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC purchased a new position in Millicom International Cellular in the first quarter valued at $819,000. Jane Street Group LLC acquired a new stake in shares of Millicom International Cellular during the 1st quarter worth about $928,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in Millicom International Cellular during the first quarter worth approximately $8,504,000. Goldman Sachs Group Inc. purchased a new position in Millicom International Cellular in the first quarter valued at approximately $50,664,000. Finally, Park West Asset Management LLC raised its holdings in Millicom International Cellular by 513.0% during the first quarter. Park West Asset Management LLC now owns 1,510,977 shares of the technology company's stock worth $45,737,000 after purchasing an additional 1,264,480 shares in the last quarter.

Analyst Ratings Changes

TIGO has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Millicom International Cellular from $50.00 to $55.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Zacks Research raised shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. UBS Group lowered Millicom International Cellular from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $39.50 to $49.00 in a report on Thursday, September 11th. Wall Street Zen cut Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Scotiabank boosted their target price on Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a report on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $42.02.

Millicom International Cellular Stock Performance

TIGO traded up $0.56 during trading on Wednesday, hitting $48.29. 277,981 shares of the stock were exchanged, compared to its average volume of 944,972. The firm has a market capitalization of $8.31 billion, a P/E ratio of 8.52 and a beta of 1.09. Millicom International Cellular SA has a 1-year low of $23.61 and a 1-year high of $50.78. The stock has a fifty day moving average price of $43.66 and a two-hundred day moving average price of $36.89. 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 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 net margin of 16.97% and a return on equity of 10.32%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.40 billion. As a group, sell-side analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

About Millicom International Cellular

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.