Millicom International Cellular SA $TIGO Shares Bought by Perpetual Ltd

Perpetual Ltd lifted its position in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 5,283.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,731,971 shares of the technology company’s stock after buying an additional 2,681,221 shares during the quarter. Millicom International Cellular makes up about 1.6% of Perpetual Ltd’s holdings, making the stock its 17th largest position. Perpetual Ltd owned about 1.59% of Millicom International Cellular worth $132,610,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TIGO. Dodge & Cox purchased a new position in Millicom International Cellular during the 1st quarter valued at about $263,401,000. Price T Rowe Associates Inc. MD increased its stake in shares of Millicom International Cellular by 5,033.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,578,894 shares of the technology company’s stock worth $168,874,000 after purchasing an additional 5,470,214 shares in the last quarter. Swedbank AB purchased a new position in shares of Millicom International Cellular during the 1st quarter worth approximately $85,909,000. Goldman Sachs Group Inc. acquired a new position in shares of Millicom International Cellular during the 1st quarter worth approximately $50,664,000. Finally, Park West Asset Management LLC lifted its stake in Millicom International Cellular by 513.0% in the 1st quarter. Park West Asset Management LLC now owns 1,510,977 shares of the technology company’s stock valued at $45,737,000 after buying an additional 1,264,480 shares in the last quarter.

Wall Street Analyst Weigh In

TIGO has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research report on Wednesday, October 8th. Zacks Research upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Wall Street Zen upgraded shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Scotiabank raised their price target 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.47.

Millicom International Cellular Stock Performance

NASDAQ TIGO opened at $53.73 on Friday. The business’s 50-day moving average price is $50.22 and its 200 day moving average price is $45.30. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76. Millicom International Cellular SA has a twelve month low of $23.61 and a twelve month high of $56.27. The company has a market capitalization of $9.25 billion, a PE ratio of 8.23 and a beta of 0.93.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Thursday, November 6th. The technology company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21). Millicom International Cellular had a net margin of 19.58% and a return on equity of 10.81%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. The firm’s quarterly revenue was down .8% on a year-over-year basis. On average, research analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular 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.