Vestcor Inc Has $3.94 Million Stake in Millicom International Cellular SA $TIGO

Key Points

• Vestcor Inc cut its stake in Millicom by 20.7% in the third quarter, selling 21,131 shares and leaving it with 81,129 shares worth about $3.94 million.
• Millicom recently beat earnings and revenue estimates, reporting $1.50 EPS vs. a $1.05 consensus and revenue of $1.65 billion (up 15.7% year-over-year); the stock opened at $72.84 and trades with a PE of 9.28 and a $12.54 billion market cap.
• Analyst sentiment is mixed: the average rating is Hold with a consensus target of $59.33, while recent actions range from UBS and JPMorgan upgrades to downgrades from Zacks and Scotiabank.

Vestcor Inc decreased its stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 20.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 81,129 shares of the technology company's stock after selling 21,131 shares during the quarter. Vestcor Inc's holdings in Millicom International Cellular were worth $3,938,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its stake in Millicom International Cellular by 155.4% during the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company's stock worth $25,000 after buying an additional 314 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Millicom International Cellular during the third quarter worth about $26,000. Alpine Bank Wealth Management acquired a new position in shares of Millicom International Cellular in the third quarter valued at approximately $28,000. Ameritas Advisory Services LLC acquired a new stake in Millicom International Cellular in the 3rd quarter valued at approximately $32,000. Finally, CWM LLC bought a new stake in Millicom International Cellular during the 3rd quarter worth about $42,000.

Millicom International Cellular Price Performance

TIGO opened at $72.84 on Wednesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88. Millicom International Cellular SA has a 52-week low of $26.35 and a 52-week high of $75.25. The stock's 50 day moving average price is $62.65 and its 200-day moving average price is $54.28. The stock has a market capitalization of $12.54 billion, a PE ratio of 9.28 and a beta of 0.90.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its earnings results on Thursday, February 26th. The technology company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.05 by $0.45. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the company posted $0.18 earnings per share. The company's revenue for the quarter was up 15.7% compared to the same quarter last year. On average, equities research analysts predict that Millicom International Cellular SA will post 1.91 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on TIGO. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. Zacks Research downgraded shares of Millicom International Cellular from a "hold" rating to a "strong sell" rating in a research note on Friday, March 6th. Scotiabank lowered Millicom International Cellular from a "sector perform" rating to a "sector underperform" rating and lowered their price objective for the stock from $46.80 to $43.00 in a research report on Wednesday, February 11th. JPMorgan Chase & Co. increased their price target on Millicom International Cellular from $55.00 to $63.00 and gave the stock an "overweight" rating in a report on Monday, November 17th. Finally, UBS Group upgraded Millicom International Cellular from a "neutral" rating to a "buy" rating and raised their price objective for the company from $49.00 to $70.00 in a research note on Thursday, January 15th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Millicom International Cellular has an average rating of "Hold" and a consensus target price of $59.33.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.

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