Vest Financial LLC Acquires 5,949 Shares of Millicom International Cellular SA $TIGO

Key Points

• Vest Financial LLC raised its holdings in Millicom International Cellular by 45.2%, acquiring an additional 5,949 shares, bringing its total to 19,120 shares valued at $716,000.
• Analysts have varied opinions on Millicom, with Zacks Research downgrading the stock to "hold" while JPMorgan Chase & Co. raised their price target from $50.00 to $55.00, reflecting a mix of optimism and caution among investors.
• Shares of Millicom International Cellular traded at $46.76, with a 12-month high of $50.78, amid anticipation of 1.91 earnings per share for the current fiscal year.

Vest Financial LLC increased its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 45.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,120 shares of the technology company's stock after purchasing an additional 5,949 shares during the quarter. Vest Financial LLC's holdings in Millicom International Cellular were worth $716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. USA Financial Formulas bought a new position in Millicom International Cellular in the second quarter valued at about $30,000. Caitong International Asset Management Co. Ltd bought a new position in Millicom International Cellular in the first quarter valued at about $84,000. Bond & Devick Financial Network Inc. bought a new position in Millicom International Cellular in the second quarter valued at about $225,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Millicom International Cellular by 65.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock valued at $190,000 after acquiring an additional 2,489 shares during the period. Finally, EWA LLC bought a new position in Millicom International Cellular in the first quarter valued at about $201,000.

Analysts Set New Price Targets

A number of research firms have weighed in on TIGO. Zacks Research downgraded Millicom International Cellular from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Millicom International Cellular in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on Millicom International Cellular from $50.00 to $55.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. UBS Group downgraded Millicom International Cellular from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $39.50 to $49.00 in a research note on Thursday, September 11th. Finally, Wall Street Zen raised Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $42.02.

Millicom International Cellular Stock Up 1.4%

Shares of TIGO opened at $46.76 on Thursday. The business's 50 day moving average is $47.12 and its 200 day moving average is $39.54. The company has a market capitalization of $8.05 billion, a PE ratio of 8.25 and a beta of 1.11. Millicom International Cellular SA has a 12-month low of $23.61 and a 12-month high of $50.78. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.59.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its earnings results 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 business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.40 billion. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. Research analysts expect that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal 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.

Want to see what other hedge funds are holding TIGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Millicom International Cellular SA (NASDAQ:TIGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.