Plato Investment Management Ltd Acquires New Position in Millicom International Cellular SA $TIGO

Plato Investment Management Ltd acquired a new stake in Millicom International Cellular SA (NASDAQ:TIGO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,163 shares of the technology company’s stock, valued at approximately $875,000.

A number of other institutional investors have also modified their holdings of TIGO. Smartleaf Asset Management LLC raised its stake in shares of Millicom International Cellular by 155.4% during the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after acquiring an additional 314 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Millicom International Cellular in the third quarter worth approximately $26,000. Alpine Bank Wealth Management purchased a new position in Millicom International Cellular during the 3rd quarter worth $28,000. CWM LLC bought a new stake in Millicom International Cellular during the 3rd quarter valued at $42,000. Finally, Farther Finance Advisors LLC raised its position in Millicom International Cellular by 332.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,025 shares of the technology company’s stock valued at $50,000 after purchasing an additional 788 shares in the last quarter.

Millicom International Cellular Trading Up 2.7%

NASDAQ TIGO opened at $66.95 on Monday. Millicom International Cellular SA has a 52 week low of $25.50 and a 52 week high of $67.26. The company has a 50 day moving average price of $55.80 and a 200 day moving average price of $50.26. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 1.76. The firm has a market cap of $11.52 billion, a PE ratio of 10.25 and a beta of 0.93.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Thursday, November 6th. The technology company reported $0.34 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts forecast that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TIGO. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price target for the stock from $49.00 to $70.00 in a research report on Thursday, January 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. Scotiabank raised their target price on shares of 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. JPMorgan Chase & Co. upped their price target on shares of Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Finally, Zacks Research lowered shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.95.

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.