Triasima Portfolio Management inc. Acquires New Shares in Millicom International Cellular SA $TIGO

Key Points

• Triasima Portfolio Management Inc. acquired 91,505 shares of Millicom International Cellular SA, valued at approximately $3,429,000, during the second quarter, increasing its stake to about 0.05%.
• Millicom's stock received varied ratings from analysts, with Scotiabank raising its price objective to $46.10, while other firms downgraded it to "buy" or "neutral."
• The company's shares opened at $48.57, reflecting a market capitalization of $8.36 billion, with analysts predicting earnings per share of 1.91 for the current year.

Triasima Portfolio Management inc. acquired a new stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 91,505 shares of the technology company's stock, valued at approximately $3,429,000. Triasima Portfolio Management inc. owned approximately 0.05% of Millicom International Cellular as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Boston Partners acquired a new stake in shares of Millicom International Cellular during the 1st quarter valued at $73,286,000. Teacher Retirement System of Texas acquired a new stake in shares of Millicom International Cellular during the 1st quarter valued at $1,402,000. KBC Group NV acquired a new stake in shares of Millicom International Cellular during the 1st quarter valued at $233,000. CWA Asset Management Group LLC boosted its holdings in shares of 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 valued at $373,000 after acquiring an additional 3,141 shares in the last quarter. Finally, Militia Capital Partners LP acquired a new stake in shares of Millicom International Cellular during the 1st quarter valued at $908,000.

Analyst Ratings Changes

TIGO has been the topic of several recent research reports. Scotiabank raised their price objective on Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a report on Tuesday, August 19th. Wall Street Zen downgraded Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Friday, October 3rd. UBS Group downgraded Millicom International Cellular from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $39.50 to $49.00 in a report on Thursday, September 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Millicom International Cellular in a report on Saturday, September 27th. Finally, Zacks Research raised Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.02.

Millicom International Cellular Stock Up 0.2%

Shares of NASDAQ:TIGO opened at $48.57 on Wednesday. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 8.57 and a beta of 1.11. 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 business's 50-day moving average is $46.28 and its 200-day moving average is $38.89. Millicom International Cellular SA has a 1 year low of $23.61 and a 1 year high of $50.78.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.03). The business 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%. Equities research analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

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.

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