KLP Kapitalforvaltning AS Acquires 21,930 Shares of Millicom International Cellular SA $TIGO

KLP Kapitalforvaltning AS increased its position in Millicom International Cellular SA (NASDAQ:TIGO) by 20.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 129,797 shares of the technology company’s stock after purchasing an additional 21,930 shares during the period. KLP Kapitalforvaltning AS’s holdings in Millicom International Cellular were worth $6,300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Harbor Capital Advisors Inc. bought a new position in shares of Millicom International Cellular during the 3rd quarter valued at approximately $26,000. Alpine Bank Wealth Management purchased a new stake in shares of Millicom International Cellular during the 3rd quarter worth $28,000. USA Financial Formulas bought a new stake in shares of Millicom International Cellular in the 2nd quarter valued at about $30,000. CWM LLC acquired a new stake in Millicom International Cellular in the third quarter valued at approximately $42,000. Finally, Farther Finance Advisors LLC boosted its holdings in Millicom International Cellular by 332.5% in the third quarter. Farther Finance Advisors LLC now owns 1,025 shares of the technology company’s stock worth $50,000 after acquiring an additional 788 shares in the last quarter.

Millicom International Cellular Price Performance

TIGO stock opened at $50.15 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $8.63 billion, a P/E ratio of 7.68 and a beta of 0.94. Millicom International Cellular SA has a twelve month low of $23.61 and a twelve month high of $57.64. The business has a 50 day simple moving average of $52.34 and a 200-day simple moving average of $47.13.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Thursday, November 6th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21). The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. Millicom International Cellular had a net margin of 19.58% and a return on equity of 10.81%. Millicom International Cellular’s quarterly revenue was down .8% compared to the same quarter last year. As a group, equities analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on TIGO. JPMorgan Chase & Co. boosted their price target 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. Zacks Research upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Scotiabank increased their target price on Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a research report on Friday, November 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. 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 equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.47.

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.