Millicom International Cellular (NASDAQ:TIGO) Shares Gap Down to $17.98

Posted by Defense World Staff on Jun 1st, 2023

Millicom International Cellular S.A. (NASDAQ:TIGO – Get Rating) shares gapped down prior to trading on Tuesday . The stock had previously closed at $17.98, but opened at $17.24. Millicom International Cellular shares last traded at $17.00, with a volume of 20,707 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently commented on TIGO. Barclays downgraded Millicom International Cellular from an “overweight” rating to an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. downgraded Millicom International Cellular from an “overweight” rating to a “neutral” rating in a report on Thursday, March 16th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.33.

Millicom International Cellular Stock Down 0.2 %

The business has a 50 day moving average of $18.41 and a 200-day moving average of $16.66. The stock has a market cap of $1.71 billion, a PE ratio of 12.88 and a beta of 1.01. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 1.84.

Millicom International Cellular (NASDAQ:TIGO – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The technology company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $1.37 billion for the quarter. Millicom International Cellular had a return on equity of 1.05% and a net margin of 2.81%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TIGO. Brandes Investment Partners LP grew its stake in shares of Millicom International Cellular by 39.7% in the 3rd quarter. Brandes Investment Partners LP now owns 2,716,522 shares of the technology company’s stock valued at $30,996,000 after purchasing an additional 771,890 shares during the last quarter. Millennium Management LLC grew its stake in shares of Millicom International Cellular by 559.6% in the 2nd quarter. Millennium Management LLC now owns 393,912 shares of the technology company’s stock valued at $5,661,000 after purchasing an additional 334,189 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Millicom International Cellular by 43.7% in the 2nd quarter. Renaissance Technologies LLC now owns 415,297 shares of the technology company’s stock valued at $5,953,000 after purchasing an additional 126,350 shares during the last quarter. FMR LLC grew its stake in shares of Millicom International Cellular by 59.2% in the 2nd quarter. FMR LLC now owns 303,915 shares of the technology company’s stock valued at $4,367,000 after purchasing an additional 113,050 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Millicom International Cellular in the 4th quarter valued at approximately $1,216,000. 18.68% of the stock is currently owned by hedge funds and other institutional investors.

Millicom International Cellular Company Profile

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Millicom International Cellular SA engages in the cable and mobile services. It operates through the Latin America and Africa geographical segments. The Latin America segment includes the Guatemala and Honduras joint ventures. The Africa segment comprises of the operations in Tanzania. The company was founded on December 14, 1990 and is headquartered in Luxembourg.