Readystate Asset Management LP Invests $10.22 Million in Millicom International Cellular SA $TIGO

Readystate Asset Management LP bought a new stake in Millicom International Cellular SA (NASDAQ:TIGO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 210,526 shares of the technology company’s stock, valued at approximately $10,219,000. Readystate Asset Management LP owned 0.12% of Millicom International Cellular as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its stake in shares of Millicom International Cellular by 155.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after purchasing an additional 314 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Millicom International Cellular in the 3rd quarter valued at $26,000. Alpine Bank Wealth Management bought a new stake in Millicom International Cellular in the third quarter valued at $28,000. Ameritas Advisory Services LLC acquired a new position in Millicom International Cellular during the third quarter worth $32,000. Finally, CWM LLC bought a new position in shares of Millicom International Cellular during the third quarter valued at $42,000.

Millicom International Cellular Price Performance

Shares of TIGO stock opened at $66.20 on Wednesday. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 10.14 and a beta of 0.93. Millicom International Cellular SA has a 12 month low of $25.50 and a 12 month high of $68.93. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 1.76. The stock has a 50-day moving average price of $57.81 and a 200 day moving average price of $51.53.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TIGO shares. Zacks Research lowered shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. JPMorgan Chase & Co. upped their price objective on shares of Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $70.00 in a report on Thursday, January 15th. Finally, Scotiabank cut Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and dropped their price target for the company from $46.80 to $43.00 in a report on Wednesday, February 11th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Millicom International Cellular presently has an average rating of “Hold” and a consensus price target of $53.00.

Millicom International Cellular Company 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.