DAVENPORT & Co LLC Acquires 2,570 Shares of Millicom International Cellular SA (NASDAQ:TIGO)

DAVENPORT & Co LLC raised its holdings in Millicom International Cellular SA (NASDAQ:TIGO) by 12.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,745 shares of the company’s stock after purchasing an additional 2,570 shares during the quarter. DAVENPORT & Co LLC’s holdings in Millicom International Cellular were worth $621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in TIGO. FNY Investment Advisers LLC bought a new position in Millicom International Cellular in the 2nd quarter valued at $78,000. JPMorgan Chase & Co. bought a new position in Millicom International Cellular in the 1st quarter valued at $98,000. Wells Fargo & Company MN grew its stake in Millicom International Cellular by 103.6% in the 1st quarter. Wells Fargo & Company MN now owns 5,619 shares of the company’s stock valued at $159,000 after purchasing an additional 2,859 shares during the period. Trexquant Investment LP bought a new position in Millicom International Cellular in the 1st quarter valued at $221,000. Finally, Bank of America Corp DE grew its stake in Millicom International Cellular by 48.4% in the 4th quarter. Bank of America Corp DE now owns 15,259 shares of the company’s stock valued at $736,000 after purchasing an additional 4,975 shares during the period. Hedge funds and other institutional investors own 6.97% of the company’s stock.

A number of brokerages have issued reports on TIGO. Zacks Investment Research downgraded Millicom International Cellular from a “hold” rating to a “sell” rating in a research note on Saturday. TheStreet cut Millicom International Cellular from a “c” rating to a “d+” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Millicom International Cellular in a research report on Monday, July 13th. ValuEngine cut Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, BidaskClub raised Millicom International Cellular from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $54.50.

Shares of TIGO opened at $29.75 on Friday. The stock’s 50-day simple moving average is $26.74 and its 200 day simple moving average is $32.41. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of -20.66 and a beta of 0.71. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.39 and a current ratio of 1.41. Millicom International Cellular SA has a 52-week low of $20.15 and a 52-week high of $53.68.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.50). The company had revenue of $1.09 billion for the quarter. Millicom International Cellular had a negative return on equity of 8.26% and a negative net margin of 3.34%. On average, research analysts forecast that Millicom International Cellular SA will post -0.34 earnings per share for the current fiscal year.

Millicom International Cellular Profile

Millicom International Cellular SA provides cable and mobile services in Latin America and Africa. The company offers mobile services, including mobile data and voice; short message service; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.

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Institutional Ownership by Quarter for Millicom International Cellular (NASDAQ:TIGO)

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