Millicom International Cellular SA $TIGO Shares Sold by Perpetual Ltd

Key Points

• Perpetual Ltd reduced its stake in Millicom International Cellular by 18.7%, selling 11,700 shares and now holding 50,750 shares valued at approximately $1.9 million.
• Recent analyst ratings for Millicom have been mostly positive, with upgrades leading to new price targets, including an increase from $37.00 to $46.10 by Scotiabank.
• Millicom's stock is currently trading at $49.68, with a twelve-month high of $50.78 and a low of $23.61, reflecting significant price movement over the year.

Perpetual Ltd decreased its position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 18.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,750 shares of the technology company's stock after selling 11,700 shares during the quarter. Perpetual Ltd's holdings in Millicom International Cellular were worth $1,902,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TIGO. State of Wyoming bought a new stake in shares of Millicom International Cellular during the 4th quarter valued at $49,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Millicom International Cellular in the 1st quarter valued at $84,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 valued at $190,000 after purchasing an additional 2,489 shares in the last quarter. EWA LLC acquired a new position in Millicom International Cellular during the first quarter valued at approximately $201,000. Finally, Spinnaker Trust bought a new stake in Millicom International Cellular during the first quarter valued at $212,000.

Millicom International Cellular Price Performance

Millicom International Cellular stock traded up $1.62 during mid-day trading on Friday, hitting $49.68. The company's stock had a trading volume of 3,354,914 shares, compared to its average volume of 1,185,264. The stock's fifty day moving average price is $44.33 and its two-hundred day moving average price is $37.42. The stock has a market capitalization of $8.55 billion, a P/E ratio of 8.76 and a beta of 1.08. Millicom International Cellular SA has a twelve month low of $23.61 and a twelve month 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.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued 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 the consensus estimate of $1.40 billion. Research analysts forecast that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on TIGO shares. UBS Group cut Millicom International Cellular from a "buy" rating to a "neutral" rating and lifted their price target for the company from $39.50 to $49.00 in a report on Thursday, September 11th. JPMorgan Chase & Co. increased their price objective 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. Zacks Research upgraded Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Wall Street Zen upgraded Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Finally, Scotiabank raised their price target on Millicom International Cellular from $37.00 to $46.10 and gave the stock a "sector perform" rating in a report on Tuesday, August 19th. Two research 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.