Cullen Capital Management LLC Buys New Stake in Millicom International Cellular SA $TIGO

Cullen Capital Management LLC purchased a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 643,031 shares of the technology company’s stock, valued at approximately $31,213,000.

A number of other institutional investors also recently made changes to their positions in TIGO. Royal Bank of Canada boosted its stake in shares of Millicom International Cellular by 48.1% during the first quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock valued at $1,398,000 after acquiring an additional 14,990 shares during the last quarter. AQR Capital Management LLC raised its stake in 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 purchasing an additional 453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Millicom International Cellular in the 1st quarter valued at about $2,188,000. Goldman Sachs Group Inc. acquired a new stake in shares of Millicom International Cellular during the 1st quarter worth about $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Millicom International Cellular during the first quarter worth about $8,504,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TIGO. Scotiabank upped their price objective on shares of Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. Wall Street Zen raised Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Zacks Research downgraded Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and raised their price target for the stock from $49.00 to $70.00 in a research note on Thursday, January 15th. Three equities research analysts have rated the stock with a Buy rating and three have assigned 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 $53.95.

Millicom International Cellular Price Performance

TIGO stock opened at $63.11 on Thursday. The company has a market cap of $10.86 billion, a PE ratio of 9.66 and a beta of 0.93. 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 stock has a 50-day moving average price of $55.29 and a two-hundred day moving average price of $49.85. Millicom International Cellular SA has a 12-month low of $25.50 and a 12-month high of $64.20.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data 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). The firm 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%. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, research analysts predict that Millicom International Cellular SA will post 1.91 EPS 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.