Nordea Investment Management AB Lowers Position in Millicom International Cellular SA $TIGO

Nordea Investment Management AB cut its stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 33.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,326 shares of the technology company's stock after selling 112,440 shares during the period. Nordea Investment Management AB owned about 0.13% of Millicom International Cellular worth $8,348,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas bought a new position in shares of Millicom International Cellular during the second quarter valued at about $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in Millicom International Cellular in the 1st quarter valued at about $84,000. Bond & Devick Financial Network Inc. bought a new position in shares of Millicom International Cellular during the 2nd quarter worth approximately $225,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Millicom International Cellular by 65.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock worth $190,000 after buying an additional 2,489 shares during the last quarter. Finally, Spinnaker Trust bought a new position in shares of Millicom International Cellular in the first quarter valued at approximately $212,000.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TIGO shares. Scotiabank boosted their price objective on Millicom International Cellular from $37.00 to $46.10 and gave the stock a "sector perform" rating in a research report on Tuesday, August 19th. Wall Street Zen upgraded Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. JPMorgan Chase & Co. increased their price target on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. UBS Group lowered shares of Millicom International Cellular from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $39.50 to $49.00 in a research report on Thursday, September 11th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Millicom International Cellular in a research note on Wednesday, October 8th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $42.02.

Millicom International Cellular Price Performance

NASDAQ TIGO opened at $47.16 on Tuesday. The company has a market cap of $8.12 billion, a PE ratio of 8.32 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 has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. The firm's 50-day simple moving average is $47.39 and its two-hundred day simple moving average is $40.04.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted 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 return on equity of 10.32% and a net margin of 16.97%.The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.40 billion. Research 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.

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