Millennium Management LLC Has $24.08 Million Position in Millicom International Cellular SA $TIGO

Key Points

• Millennium Management LLC increased its stake in Millicom International Cellular by 1,116.6%, owning 795,361 shares valued at approximately $24.08 million following a substantial acquisition.
• Analyst ratings for Millicom International Cellular are mixed, with two analysts rating it a "Strong Buy" and others varying from "Buy" to "Hold", leading to a consensus rating of "Moderate Buy" and a target price of $42.02.
• The company reported an EPS of $0.51 for the last quarter, which was lower than the consensus estimate of $0.54, alongside a revenue of $1.37 billion, missing expectations of $1.40 billion.

Millennium Management LLC grew its position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 1,116.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 795,361 shares of the technology company's stock after buying an additional 729,986 shares during the quarter. Millennium Management LLC owned approximately 0.46% of Millicom International Cellular worth $24,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TIGO. AQR Capital Management LLC lifted its position in Millicom International Cellular by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company's stock worth $290,000 after acquiring an additional 453 shares during the last quarter. Cerity Partners LLC raised its stake in Millicom International Cellular by 4.7% during the 1st quarter. Cerity Partners LLC now owns 11,208 shares of the technology company's stock valued at $339,000 after purchasing an additional 508 shares during the last quarter. State of Wyoming acquired a new position in shares of Millicom International Cellular during the fourth quarter valued at about $49,000. LB Partners LLC raised its position 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 buying an additional 2,000 shares during the last quarter. Finally, Vident Advisory LLC raised its position in shares of Millicom International Cellular by 24.7% during the fourth quarter. Vident Advisory LLC now owns 10,440 shares of the technology company's stock valued at $261,000 after buying an additional 2,071 shares during the last quarter.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO traded up $0.59 during mid-day trading on Wednesday, hitting $48.32. 162,154 shares of the stock were exchanged, compared to its average volume of 944,161. The company has a market cap of $8.32 billion, a P/E ratio of 8.50 and a beta of 1.09. The stock's fifty day simple moving average is $43.66 and its two-hundred day simple moving average is $36.89. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89. Millicom International Cellular SA has a twelve month low of $23.61 and a twelve month high of $50.78.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. As a group, analysts forecast that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on TIGO shares. JPMorgan Chase & Co. upped their price target on Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. UBS Group lowered Millicom International Cellular from a "buy" rating to a "neutral" rating and upped their target price for the company from $39.50 to $49.00 in a research note on Thursday, September 11th. Zacks Research upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Scotiabank increased 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. Finally, Wall Street Zen cut shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $42.02.

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.