KLP Kapitalforvaltning AS Has $4.04 Million Holdings in Millicom International Cellular SA $TIGO

KLP Kapitalforvaltning AS lifted its holdings in Millicom International Cellular SA (NASDAQ:TIGO) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,867 shares of the technology company’s stock after acquiring an additional 1,800 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.06% of Millicom International Cellular worth $4,042,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Hennessy Advisors Inc. acquired a new position in Millicom International Cellular during the 2nd quarter worth $11,237,000. USA Financial Formulas acquired a new position in Millicom International Cellular during the 2nd quarter worth $30,000. Janney Montgomery Scott LLC acquired a new position in Millicom International Cellular during the 2nd quarter worth $405,000. Public Employees Retirement System of Ohio lifted its holdings in Millicom International Cellular by 27.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 117,035 shares of the technology company’s stock worth $4,385,000 after buying an additional 24,886 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in Millicom International Cellular during the 2nd quarter worth $1,962,000.

Millicom International Cellular Stock Performance

TIGO stock opened at $47.62 on Friday. The business’s fifty day moving average is $46.73 and its 200-day moving average is $39.19. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. The company has a market cap of $8.20 billion, a P/E ratio of 8.40 and a beta of 1.11. Millicom International Cellular SA has a twelve month low of $23.61 and a twelve month high of $50.78.

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

Analyst Upgrades and Downgrades

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

Millicom International Cellular Profile

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.