Meritage Portfolio Management Purchases Shares of 142,018 Millicom International Cellular SA $TIGO

Meritage Portfolio Management purchased a new stake in Millicom International Cellular SA (NASDAQ:TIGO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 142,018 shares of the technology company’s stock, valued at approximately $5,321,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Millicom International Cellular by 17.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 32,334 shares of the technology company’s stock valued at $1,212,000 after purchasing an additional 4,838 shares in the last quarter. Triasima Portfolio Management inc. acquired a new position in shares of Millicom International Cellular in the second quarter valued at approximately $3,429,000. Kingswood Wealth Advisors LLC acquired a new position in shares of Millicom International Cellular in the second quarter valued at approximately $377,000. KLP Kapitalforvaltning AS raised its position in shares of Millicom International Cellular by 1.7% in the second quarter. KLP Kapitalforvaltning AS now owns 107,867 shares of the technology company’s stock valued at $4,042,000 after buying an additional 1,800 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in shares of Millicom International Cellular in the second quarter valued at approximately $11,237,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TIGO. UBS Group lowered shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $39.50 to $49.00 in a research report on Thursday, September 11th. Zacks Research lowered shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Scotiabank boosted their price objective on shares of Millicom International Cellular from $37.00 to $46.10 and gave the company a “sector perform” rating in a research report on Tuesday, August 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research report on Wednesday. Finally, Wall Street Zen raised shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.02.

Millicom International Cellular Stock Performance

Shares of TIGO stock opened at $47.62 on Friday. Millicom International Cellular SA has a one year low of $23.61 and a one year high of $50.78. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89. The company has a 50 day moving average price of $46.73 and a 200 day moving average price of $39.26. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 8.40 and a beta of 1.11.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%.The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. Sell-side analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current year.

About Millicom International Cellular

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.