Mackenzie Financial Corp Buys New Position in Millicom International Cellular SA $TIGO

Mackenzie Financial Corp bought a new stake in shares of Millicom International Cellular SA (NASDAQ:TIGO) in the second quarter, HoldingsChannel reports. The institutional investor bought 524,229 shares of the technology company’s stock, valued at approximately $19,643,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Segall Bryant & Hamill LLC grew its position in shares of Millicom International Cellular by 0.3% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 97,577 shares of the technology company’s stock valued at $3,656,000 after acquiring an additional 300 shares during the period. AQR Capital Management LLC lifted its position in Millicom International Cellular by 5.0% during the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock valued at $290,000 after purchasing an additional 453 shares in the last quarter. USA Financial Formulas bought a new stake in Millicom International Cellular during the second quarter valued at about $30,000. Russell Investments Group Ltd. increased its position in Millicom International Cellular by 6.8% in the second quarter. Russell Investments Group Ltd. now owns 26,847 shares of the technology company’s stock worth $1,006,000 after buying an additional 1,700 shares in the last quarter. Finally, KLP Kapitalforvaltning AS increased its position in Millicom International Cellular by 1.7% in the second quarter. KLP Kapitalforvaltning AS now owns 107,867 shares of the technology company’s stock worth $4,042,000 after buying an additional 1,800 shares in the last quarter.

Wall Street Analyst Weigh In

TIGO has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a research report on Wednesday, October 8th. Scotiabank increased their price objective on shares of Millicom International Cellular from $46.10 to $46.80 and gave the stock a “sector perform” rating in a research note on Friday, November 7th. UBS Group cut shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and lifted their target price for the company from $39.50 to $49.00 in a research note on Thursday, September 11th. Finally, Wall Street Zen raised shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.47.

Millicom International Cellular Stock Performance

Shares of NASDAQ TIGO opened at $52.60 on Tuesday. The company has a market cap of $9.05 billion, a P/E ratio of 9.28 and a beta of 1.11. Millicom International Cellular SA has a 52-week low of $23.61 and a 52-week high of $56.27. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89. The firm’s fifty day moving average is $49.10 and its two-hundred day moving average is $43.92.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.21). The company had revenue of $1.42 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%. Millicom International Cellular’s revenue was down .8% on a year-over-year basis. As a group, analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Millicom International Cellular Company 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.