LB Partners LLC Makes New $9 Million Investment in Millicom International Cellular S.A. (NASDAQ:TIGO)

LB Partners LLC bought a new position in shares of Millicom International Cellular S.A. (NASDAQ:TIGO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 500,000 shares of the technology company's stock, valued at approximately $9,000,000. Millicom International Cellular comprises approximately 9.9% of LB Partners LLC's investment portfolio, making the stock its 3rd biggest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisor Group Holdings Inc. boosted its position in shares of Millicom International Cellular by 261.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,128 shares of the technology company's stock valued at $28,000 after acquiring an additional 816 shares during the last quarter. Operose Advisors LLC acquired a new position in shares of Millicom International Cellular during the 3rd quarter valued at about $29,000. Lazard Asset Management LLC acquired a new position in shares of Millicom International Cellular during the 1st quarter valued at about $50,000. BNP Paribas Arbitrage SNC acquired a new position in shares of Millicom International Cellular during the 1st quarter valued at about $42,000. Finally, BlackRock Inc. raised its holdings in Millicom International Cellular by 109.8% in the 2nd quarter. BlackRock Inc. now owns 2,274 shares of the technology company's stock valued at $35,000 after buying an additional 1,190 shares during the period.

Millicom International Cellular Trading Down 1.3 %

NASDAQ:TIGO traded down $0.26 on Wednesday, reaching $20.39. 69,511 shares of the company's stock were exchanged, compared to its average volume of 83,284. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 1.88. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -43.38 and a beta of 1.15. The business has a fifty day moving average of $18.03 and a 200-day moving average of $17.18. Millicom International Cellular S.A. has a 52-week low of $14.46 and a 52-week high of $20.81.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The technology company reported ($0.36) earnings per share (EPS) for the quarter. The business had revenue of $1.48 billion for the quarter. Millicom International Cellular had a negative return on equity of 2.41% and a negative net margin of 1.45%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Scotiabank boosted their price objective on shares of Millicom International Cellular from $18.00 to $26.10 and gave the company a "sector outperform" rating in a report on Wednesday, February 28th. Morgan Stanley upgraded shares of Millicom International Cellular from an "equal weight" rating to an "overweight" rating in a report on Friday, January 5th. JPMorgan Chase & Co. upgraded shares of Millicom International Cellular from a "neutral" rating to an "overweight" rating in a report on Thursday, March 28th. New Street Research upgraded shares of Millicom International Cellular from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $20.00 to $24.00 in a report on Thursday, February 29th. Finally, HSBC upgraded shares of Millicom International Cellular from a "hold" rating to a "buy" rating and set a $22.50 price objective on the stock in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $24.20.

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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