Public Employees Retirement System of Ohio Increases Stock Holdings in Millicom International Cellular SA $TIGO

Key Points

• The Public Employees Retirement System of Ohio has increased its stake in Millicom International Cellular by 27.0%, now owning 117,035 shares worth approximately $4.4 million.
• Analysts have generally upgraded Millicom's stock ratings, with Zacks Research and Wall Street Zen both issuing a "strong-buy" rating, while JPMorgan raised their price target from $50.00 to $55.00.
• Despite missing earnings expectations in its latest quarterly report, Millicom International Cellular has shown strong performance indicators, including a net margin of 16.97% and a return on equity of 10.32%.

Public Employees Retirement System of Ohio increased its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 27.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,035 shares of the technology company's stock after buying an additional 24,886 shares during the quarter. Public Employees Retirement System of Ohio owned 0.07% of Millicom International Cellular worth $4,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners purchased a new position in Millicom International Cellular during the 1st quarter worth $73,286,000. Teacher Retirement System of Texas purchased a new position in Millicom International Cellular during the 1st quarter worth $1,402,000. KBC Group NV purchased a new position in Millicom International Cellular during the 1st quarter worth $233,000. CWA Asset Management Group LLC grew its stake in Millicom International Cellular by 34.3% during the 1st quarter. CWA Asset Management Group LLC now owns 12,307 shares of the technology company's stock worth $373,000 after buying an additional 3,141 shares during the last quarter. Finally, Militia Capital Partners LP purchased a new position in Millicom International Cellular during the 1st quarter worth $908,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. 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 note on Sunday, September 21st. Scotiabank lifted 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. JPMorgan Chase & Co. lifted their price target on Millicom International Cellular from $50.00 to $55.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, UBS Group cut Millicom International Cellular from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $39.50 to $49.00 in a research report on Thursday, September 11th. 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 stock. Based on data from MarketBeat, Millicom International Cellular has an average rating of "Moderate Buy" and an average target price of $42.02.

Millicom International Cellular Stock Performance

Shares of TIGO stock opened at $48.11 on Tuesday. The stock has a market cap of $8.28 billion, a PE ratio of 8.49 and a beta of 1.08. The business has a 50-day simple moving average of $45.39 and a 200-day simple moving average of $38.21. 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 SA has a 52-week low of $23.61 and a 52-week high of $50.78.

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 (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.03). The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.40 billion. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. On average, equities analysts expect that Millicom International Cellular SA will post 1.91 EPS 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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