Nuveen LLC Makes New $2.72 Million Investment in Millicom International Cellular SA $TIGO

Key Points

• Nuveen LLC invested approximately $2.72 million in Millicom International Cellular SA, purchasing nearly 89,898 shares in the first quarter.
• Millicom International Cellular reported earnings of $0.51 per share for the last quarter, missing analysts' expectations and generating revenue of $1.37 billion.
• Analysts have raised their price targets for Millicom, with JPMorgan Chase increasing their target from $50.00 to $55.00 and Zacks Research upgrading the stock to a "strong-buy" rating.

Nuveen LLC acquired a new position in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 89,898 shares of the technology company's stock, valued at approximately $2,721,000. Nuveen LLC owned approximately 0.05% of Millicom International Cellular as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TIGO. Southeastern Asset Management Inc. TN acquired a new position in shares of Millicom International Cellular during the fourth quarter worth $60,306,000. Victory Capital Management Inc. acquired a new position in shares of Millicom International Cellular during the first quarter worth $22,999,000. Deutsche Bank AG acquired a new position in shares of Millicom International Cellular in the 1st quarter valued at $20,385,000. Hosking Partners LLP acquired a new position in shares of Millicom International Cellular in the 1st quarter valued at $16,080,000. Finally, LB Partners LLC increased its position in shares of Millicom International Cellular by 0.4% in the 1st quarter. LB Partners LLC now owns 520,923 shares of the technology company's stock valued at $15,907,000 after acquiring an additional 2,000 shares during the period.

Millicom International Cellular Price Performance

TIGO stock traded up $1.00 during trading on Wednesday, hitting $50.68. The stock had a trading volume of 378,111 shares, compared to its average volume of 928,323. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.87. Millicom International Cellular SA has a twelve month low of $23.61 and a twelve month high of $50.47. The stock has a market capitalization of $8.72 billion, a P/E ratio of 8.94 and a beta of 1.09. The company's 50-day moving average price is $41.58 and its two-hundred day moving average price is $35.44.

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 (EPS) 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 during the quarter, compared to analyst estimates of $1.40 billion. As a group, research analysts predict that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TIGO has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Wall Street Zen raised Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 25th. Zacks Research raised Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. UBS Group increased their price target on Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Scotiabank increased their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.43.

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.