Causeway Capital Management LLC Invests $1.85 Million in Millicom International Cellular SA $TIGO

Causeway Capital Management LLC bought a new stake in Millicom International Cellular SA (NASDAQ:TIGO) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 38,000 shares of the technology company’s stock, valued at approximately $1,845,000.

Other hedge funds have also bought and sold shares of the company. Dodge & Cox lifted its holdings in Millicom International Cellular by 1.5% during 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 during the last quarter. Brandes Investment Partners LP boosted 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 purchasing an additional 161,861 shares during the period. JPMorgan Chase & Co. grew its position in Millicom International Cellular by 348.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock worth $313,555,000 after purchasing an additional 5,020,602 shares during the last quarter. Boston Partners increased its stake in shares of Millicom International Cellular by 22.1% in the second quarter. Boston Partners now owns 2,956,476 shares of the technology company’s stock valued at $110,779,000 after purchasing an additional 535,399 shares during the period. Finally, Barclays PLC boosted its position in shares of Millicom International Cellular by 1.7% during the third quarter. Barclays PLC now owns 2,895,215 shares of the technology company’s stock worth $140,534,000 after buying an additional 47,194 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TIGO shares. Zacks Research lowered Millicom International Cellular from a “hold” rating to a “strong sell” rating in a report on Friday. 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. Morgan Stanley reissued a “positive” rating and set a $55.00 target price on shares of Millicom International Cellular in a research note on Thursday, February 26th. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Millicom International Cellular currently has a consensus rating of “Hold” and a consensus price target of $59.33.

Millicom International Cellular Price Performance

NASDAQ:TIGO opened at $70.17 on Tuesday. The business’s 50-day moving average price is $62.29 and its 200 day moving average price is $54.10. The firm has a market cap of $12.08 billion, a P/E ratio of 8.94 and a beta of 0.90. Millicom International Cellular SA has a 52-week low of $26.35 and a 52-week high of $75.25. 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 issued its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the company earned $0.18 EPS. Millicom International Cellular’s revenue was up 15.7% on a year-over-year basis. As a group, sell-side analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

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.