Gamco Investors INC. ET AL Reduces Position in Millicom International Cellular SA $TIGO

Gamco Investors INC. ET AL trimmed its position in Millicom International Cellular SA (NASDAQ:TIGO) by 8.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 716,183 shares of the technology company’s stock after selling 67,047 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.42% of Millicom International Cellular worth $34,764,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dodge & Cox increased its holdings in Millicom International Cellular by 1.5% in the second quarter. Dodge & Cox now owns 8,836,132 shares of the technology company’s stock valued at $331,090,000 after buying an additional 134,400 shares during the last quarter. Brandes Investment Partners LP lifted its holdings 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 worth $248,228,000 after buying an additional 161,861 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of 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 in the last quarter. Boston Partners boosted its position in shares of 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 in the last quarter. Finally, Barclays PLC increased its holdings in shares of Millicom International Cellular by 1.7% in the 3rd quarter. Barclays PLC now owns 2,895,215 shares of the technology company’s stock valued at $140,534,000 after acquiring an additional 47,194 shares during the last quarter.

Millicom International Cellular Stock Down 2.5%

TIGO opened at $69.28 on Friday. Millicom International Cellular SA has a one year low of $26.35 and a one year high of $75.25. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88. The stock has a market capitalization of $11.92 billion, a P/E ratio of 8.83 and a beta of 0.90. The business’s 50-day simple moving average is $62.00 and its 200-day simple moving average is $53.81.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The business’s revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. Analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price 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. Zacks Research downgraded Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Morgan Stanley reiterated a “positive” rating and issued a $55.00 price target on shares of Millicom International Cellular in a research note on Thursday, February 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. Finally, HSBC upgraded shares of 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. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.