First Trust Advisors LP Boosts Stock Holdings in Millicom International Cellular SA $TIGO

First Trust Advisors LP lifted its holdings in Millicom International Cellular SA (NASDAQ:TIGO) by 55.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 969,140 shares of the technology company’s stock after acquiring an additional 347,448 shares during the quarter. First Trust Advisors LP’s holdings in Millicom International Cellular were worth $47,042,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TIGO. Segall Bryant & Hamill LLC boosted its position in Millicom International Cellular by 0.3% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 97,577 shares of the technology company’s stock valued at $3,656,000 after acquiring an additional 300 shares in the last quarter. Smartleaf Asset Management LLC raised its position 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 worth $25,000 after acquiring an additional 314 shares in the last quarter. AQR Capital Management LLC boosted its position in Millicom International Cellular by 5.0% during the first 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 in the last quarter. EverSource Wealth Advisors LLC boosted its position in Millicom International Cellular by 32.1% during the third quarter. EverSource Wealth Advisors LLC now owns 1,867 shares of the technology company’s stock valued at $91,000 after purchasing an additional 454 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in Millicom International Cellular in the third quarter valued at about $26,000.

Millicom International Cellular Trading Down 2.4%

Shares of NASDAQ:TIGO opened at $71.12 on Thursday. 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 SA has a 52-week low of $26.35 and a 52-week high of $75.25. The stock has a market cap of $12.24 billion, a price-to-earnings ratio of 9.06 and a beta of 0.90. The business has a 50-day moving average price of $62.96 and a 200-day moving average price of $54.40.

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, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company earned $0.18 EPS. Millicom International Cellular’s quarterly revenue was up 15.7% on a year-over-year basis. Equities analysts predict that Millicom International Cellular SA will post 1.91 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Zacks Research lowered shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research report on Friday, March 6th. Scotiabank lowered shares of Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and cut their price target for the stock from $46.80 to $43.00 in a report on Wednesday, February 11th. JPMorgan Chase & Co. upped their price target on Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Morgan Stanley reissued a “positive” rating and issued a $55.00 price objective on shares of Millicom International Cellular in a research report on Thursday, February 26th. Finally, HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Friday, March 6th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $59.33.

About Millicom International Cellular

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.