Marathon Asset Management Ltd Invests $47.79 Million in Millicom International Cellular SA $TIGO

Marathon Asset Management Ltd acquired a new stake in Millicom International Cellular SA (NASDAQ:TIGO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 984,528 shares of the technology company’s stock, valued at approximately $47,789,000. Millicom International Cellular accounts for 1.8% of Marathon Asset Management Ltd’s investment portfolio, making the stock its 20th largest position. Marathon Asset Management Ltd owned 0.57% of Millicom International Cellular as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Dodge & Cox boosted its stake in Millicom International Cellular by 1.5% in the 2nd quarter. Dodge & Cox now owns 8,836,132 shares of the technology company’s stock worth $331,090,000 after buying an additional 134,400 shares during the last quarter. Brandes Investment Partners LP boosted its position in shares of Millicom International Cellular by 2.5% in the second quarter. Brandes Investment Partners LP now owns 6,624,718 shares of the technology company’s stock worth $248,228,000 after acquiring an additional 161,861 shares during the last quarter. Boston Partners grew its holdings in Millicom International Cellular by 22.1% in the second quarter. Boston Partners now owns 2,956,476 shares of the technology company’s stock valued at $110,779,000 after purchasing an additional 535,399 shares during the period. Swedbank AB acquired a new position in Millicom International Cellular during the first quarter worth approximately $85,909,000. Finally, Perpetual Ltd increased its position in Millicom International Cellular by 5,283.2% during the third quarter. Perpetual Ltd now owns 2,731,971 shares of the technology company’s stock worth $132,610,000 after purchasing an additional 2,681,221 shares during the last quarter.

Millicom International Cellular Trading Up 1.3%

Shares of TIGO opened at $54.78 on Monday. Millicom International Cellular SA has a 12 month low of $23.61 and a 12 month high of $56.27. The stock’s 50-day moving average is $50.95 and its two-hundred day moving average is $46.05. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.93 and a quick ratio of 0.91. The stock has a market cap of $9.43 billion, a PE ratio of 8.39 and a beta of 0.93.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Thursday, November 6th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21). The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. Millicom International Cellular had a net margin of 19.58% and a return on equity of 10.81%. The company’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts forecast that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on TIGO shares. Zacks Research raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research report on Wednesday, October 8th. Wall Street Zen upgraded Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. JPMorgan Chase & Co. lifted their price objective on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Finally, UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and increased their target price for the stock from $39.50 to $49.00 in a research report on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Millicom International Cellular currently has an average rating of “Moderate Buy” and a consensus target price of $43.47.

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.