Readystate Asset Management LP Invests $10.22 Million in Millicom International Cellular SA $TIGO

Readystate Asset Management LP purchased a new stake in Millicom International Cellular SA (NASDAQ:TIGO) during the third quarter, Holdings Channel reports. The institutional investor purchased 210,526 shares of the technology company’s stock, valued at approximately $10,219,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TIGO. Segall Bryant & Hamill LLC increased its stake in Millicom International Cellular by 0.3% in the second quarter. Segall Bryant & Hamill LLC now owns 97,577 shares of the technology company’s stock valued at $3,656,000 after purchasing an additional 300 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Millicom International Cellular by 155.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after buying an additional 314 shares during the period. AQR Capital Management LLC increased its position 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 valued at $290,000 after buying an additional 453 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Millicom International Cellular by 55.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock valued at $53,000 after buying an additional 502 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in Millicom International Cellular during the 3rd quarter worth $26,000.

Millicom International Cellular Stock Performance

Shares of TIGO opened at $66.20 on Wednesday. The stock has a market capitalization of $11.39 billion, a price-to-earnings ratio of 10.14 and a beta of 0.93. Millicom International Cellular SA has a 12 month low of $25.50 and a 12 month high of $68.93. The firm has a fifty day simple moving average of $57.81 and a 200 day simple moving average of $51.53. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76.

Analyst Ratings Changes

TIGO has been the subject of a number of research analyst reports. Zacks Research cut Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. Scotiabank cut Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the stock from $46.80 to $43.00 in a research note on Wednesday, February 11th. UBS Group raised shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their price target for the company from $49.00 to $70.00 in a research note on Thursday, January 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $53.00.

Millicom International Cellular Company 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.