Millicom International Cellular SA $TIGO Holdings Reduced by Gabelli Funds LLC

Gabelli Funds LLC lowered its position in Millicom International Cellular SA (NASDAQ:TIGO) by 4.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 445,500 shares of the technology company’s stock after selling 19,200 shares during the quarter. Gabelli Funds LLC’s holdings in Millicom International Cellular were worth $21,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Dodge & Cox grew its holdings in Millicom International Cellular by 1.5% in the 2nd quarter. Dodge & Cox now owns 8,836,132 shares of the technology company’s stock worth $331,090,000 after buying an additional 134,400 shares in the last quarter. Brandes Investment Partners LP raised its stake in Millicom International Cellular by 2.5% during the 2nd quarter. Brandes Investment Partners LP now owns 6,624,718 shares of the technology company’s stock valued at $248,228,000 after acquiring an additional 161,861 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Millicom International Cellular by 348.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock worth $313,555,000 after acquiring an additional 5,020,602 shares during the period. Boston Partners boosted its position in Millicom International Cellular by 22.1% during the 2nd quarter. Boston Partners now owns 2,956,476 shares of the technology company’s stock worth $110,779,000 after acquiring an additional 535,399 shares during the period. Finally, Barclays PLC grew its stake in shares of Millicom International Cellular by 1.7% in the third quarter. Barclays PLC now owns 2,895,215 shares of the technology company’s stock worth $140,534,000 after purchasing an additional 47,194 shares in the last quarter.

Millicom International Cellular Trading Down 2.5%

Shares of Millicom International Cellular stock opened at $69.28 on Friday. The business has a fifty day simple moving average of $62.00 and a 200-day simple moving average of $53.88. Millicom International Cellular SA has a fifty-two week low of $26.35 and a fifty-two week high of $75.25. The firm has a market cap of $11.92 billion, a price-to-earnings ratio of 8.83 and a beta of 0.90. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.81.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company earned $0.18 earnings per share. Millicom International Cellular’s revenue was up 15.7% compared to the same quarter last year. On average, equities analysts forecast that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Zacks Research lowered Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Scotiabank lowered shares of Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and decreased their target price for the company from $46.80 to $43.00 in a research report on Wednesday, February 11th. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Friday. Morgan Stanley restated a “positive” rating and set a $55.00 price target on shares of Millicom International Cellular in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. increased their price objective 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. Five investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.33.

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.