Triodos Investment Management BV Reduces Holdings in Millicom International Cellular SA $TIGO

Key Points

• Triodos Investment Management BV has reduced its holdings in Millicom International Cellular by 8.9% in the second quarter, resulting in ownership of 808,000 shares.
• Millicom's stock ratings have seen changes, with Wall Street Zen downgrading it from "strong-buy" to "buy" and Zacks upgrading it to "strong-buy," indicating mixed analyst sentiment.
• Millicom reported $0.51 earnings per share for the quarter, missing analyst estimates of $0.54 and generating revenue of $1.37 billion, slightly below expectations.

Triodos Investment Management BV reduced its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 8.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 808,000 shares of the technology company's stock after selling 78,500 shares during the quarter. Millicom International Cellular makes up 2.3% of Triodos Investment Management BV's investment portfolio, making the stock its 21st largest position. Triodos Investment Management BV owned approximately 0.47% of Millicom International Cellular worth $30,243,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dodge & Cox purchased a new position in Millicom International Cellular during the 1st quarter valued at about $263,401,000. Price T Rowe Associates Inc. MD increased its holdings in Millicom International Cellular by 5,033.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,578,894 shares of the technology company's stock valued at $168,874,000 after acquiring an additional 5,470,214 shares in the last quarter. Swedbank AB purchased a new position in Millicom International Cellular during the 1st quarter valued at about $85,909,000. Boston Partners purchased a new position in Millicom International Cellular during the 1st quarter valued at about $73,286,000. Finally, Goldman Sachs Group Inc. purchased a new position in Millicom International Cellular during the 1st quarter valued at about $50,664,000.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Friday, October 3rd. Zacks Research upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. UBS Group downgraded shares of 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 report on Thursday, September 11th. Scotiabank lifted their price target on shares of Millicom International Cellular from $37.00 to $46.10 and gave the stock a "sector perform" rating in a report on Tuesday, August 19th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Millicom International Cellular in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $42.02.

Millicom International Cellular Price Performance

Millicom International Cellular stock opened at $47.34 on Friday. Millicom International Cellular SA has a 1 year low of $23.61 and a 1 year high of $50.78. The firm has a 50 day moving average price of $46.59 and a 200 day moving average price of $39.07. The company has a market cap of $8.15 billion, a price-to-earnings ratio of 8.35 and a beta of 1.11. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its earnings results 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). Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.40 billion. Sell-side analysts predict that Millicom International Cellular SA will post 1.91 earnings per share 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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