38,000 Shares in Millicom International Cellular SA $TIGO Bought by Causeway Capital Management LLC

Causeway Capital Management LLC bought a new stake in shares of Millicom International Cellular SA (NASDAQ:TIGO) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 38,000 shares of the technology company’s stock, valued at approximately $1,845,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TIGO. Royal Bank of Canada lifted its stake in 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 buying an additional 14,990 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of 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 acquiring an additional 453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Millicom International Cellular in the 1st quarter worth approximately $2,188,000. Goldman Sachs Group Inc. purchased a new position in shares of Millicom International Cellular during the first quarter valued at $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Millicom International Cellular during the 1st quarter worth about $8,504,000.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TIGO shares. 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 note on Wednesday, February 11th. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $70.00 in a report on Thursday, January 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. Zacks Research downgraded Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped 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. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $59.33.

Millicom International Cellular Stock Performance

Shares of TIGO opened at $70.17 on Tuesday. 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 12 month low of $26.35 and a 12 month high of $75.25. The company’s fifty day moving average is $62.29 and its 200-day moving average is $54.10. The firm has a market cap of $12.08 billion, a price-to-earnings ratio of 8.94 and a beta of 0.90.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities analysts expect that Millicom International Cellular SA will post 1.91 EPS for the current fiscal 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.