Hennessy Advisors Inc. Invests $11.24 Million in Millicom International Cellular SA $TIGO

Hennessy Advisors Inc. acquired a new position in Millicom International Cellular SA (NASDAQ:TIGO) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 299,900 shares of the technology company’s stock, valued at approximately $11,237,000.

A number of other large investors also recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of Millicom International Cellular by 5.0% in the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock worth $290,000 after purchasing an additional 453 shares during the period. Cerity Partners LLC raised its holdings in shares of Millicom International Cellular by 4.7% during the 1st quarter. Cerity Partners LLC now owns 11,208 shares of the technology company’s stock valued at $339,000 after buying an additional 508 shares during the period. USA Financial Formulas purchased a new stake in shares of Millicom International Cellular during the 2nd quarter valued at about $30,000. LB Partners LLC raised its holdings in shares of Millicom International Cellular by 0.4% during the 1st quarter. LB Partners LLC now owns 520,923 shares of the technology company’s stock valued at $15,907,000 after buying an additional 2,000 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Millicom International Cellular by 65.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company’s stock valued at $190,000 after buying an additional 2,489 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wall Street Zen downgraded Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a report on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a report on Saturday, September 27th. UBS Group downgraded Millicom International Cellular from a “buy” rating to a “neutral” rating and raised their target price for the company from $39.50 to $49.00 in a report on Thursday, September 11th. Scotiabank raised their target price on Millicom International Cellular from $37.00 to $46.10 and gave the company a “sector perform” rating in a report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. raised their price objective on Millicom International Cellular from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Millicom International Cellular currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.02.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO opened at $48.15 on Friday. Millicom International Cellular SA has a fifty-two week low of $23.61 and a fifty-two week high of $50.78. The business has a 50 day moving average price of $45.93 and a two-hundred day moving average price of $38.59. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. The firm has a market cap of $8.29 billion, a PE ratio of 8.49 and a beta of 1.11.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 earnings per share 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 business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. Sell-side 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.