Swedbank AB Has $95.18 Million Position in Millicom International Cellular SA $TIGO

Key Points

• Swedbank AB has reduced its holdings in Millicom International Cellular by 10.5%, now owning approximately 2.54 million shares worth $95.18 million.
• Wall Street analysts have shown mixed sentiments about Millicom, with upgrades from JPMorgan and Zacks Research, while UBS downgraded the stock from "buy" to "neutral."
• Millicom International Cellular reported earnings of $0.51 per share for the latest quarter, missing analysts' expectations of $0.54, alongside revenue of $1.37 billion, below anticipated figures.

Swedbank AB lowered its stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 10.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,540,158 shares of the technology company's stock after selling 297,946 shares during the quarter. Swedbank AB owned about 1.48% of Millicom International Cellular worth $95,180,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TIGO. Point72 Asset Management L.P. lifted its holdings in Millicom International Cellular by 422.0% in the fourth quarter. Point72 Asset Management L.P. now owns 16,704 shares of the technology company's stock worth $418,000 after purchasing an additional 13,504 shares during the period. State of Wyoming acquired a new stake in Millicom International Cellular in the fourth quarter worth about $49,000. Two Sigma Investments LP lifted its holdings in Millicom International Cellular by 229.3% in the fourth quarter. Two Sigma Investments LP now owns 57,113 shares of the technology company's stock worth $1,428,000 after purchasing an additional 39,771 shares during the period. Two Sigma Advisers LP acquired a new stake in Millicom International Cellular in the fourth quarter worth about $988,000. Finally, Squarepoint Ops LLC acquired a new position in Millicom International Cellular during the fourth quarter worth about $1,319,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Scotiabank raised 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 report on Tuesday, August 19th. Wall Street Zen raised Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research note on Sunday. JPMorgan Chase & Co. lifted their target price on Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. UBS Group cut Millicom International Cellular from a "buy" rating to a "neutral" rating and lifted their target price for the company from $39.50 to $49.00 in a research note on Thursday, September 11th. Finally, Zacks Research raised Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Millicom International Cellular has a consensus rating of "Moderate Buy" and a consensus price target of $42.02.

Millicom International Cellular Stock Performance

TIGO traded down $0.27 on Monday, hitting $49.42. The company had a trading volume of 214,195 shares, compared to its average volume of 956,682. The company's fifty day moving average price is $44.33 and its 200 day moving average price is $37.42. Millicom International Cellular SA has a 1-year low of $23.61 and a 1-year high of $50.78. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.87. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 8.71 and a beta of 1.08.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.40 billion. Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%. Equities analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal 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.