CWA Asset Management Group LLC Has $1.18 Million Stock Holdings in Millicom International Cellular SA $TIGO

CWA Asset Management Group LLC trimmed its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 26.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 21,325 shares of the technology company’s stock after selling 7,533 shares during the period. CWA Asset Management Group LLC’s holdings in Millicom International Cellular were worth $1,182,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Nisa Investment Advisors LLC bought a new position in Millicom International Cellular during the third quarter worth about $4,010,000. State of Alaska Department of Revenue acquired a new stake in Millicom International Cellular during the third quarter valued at approximately $970,000. Plato Investment Management Ltd bought a new stake in shares of Millicom International Cellular in the 3rd quarter valued at approximately $875,000. JPMorgan Chase & Co. grew its stake in shares of Millicom International Cellular by 348.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock valued at $313,555,000 after purchasing an additional 5,020,602 shares during the period. Finally, Franklin Resources Inc. acquired a new position in shares of Millicom International Cellular in the 2nd quarter worth approximately $1,293,000.

Analysts Set New Price Targets

Several research firms recently commented on TIGO. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $70.00 in a research report on Thursday, January 15th. Scotiabank cut Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and lowered their price target for the company from $46.80 to $43.00 in a research report on Wednesday, February 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. Zacks Research cut Millicom International Cellular from a “hold” rating to a “strong sell” rating in a report on Friday, March 6th. Finally, Morgan Stanley restated a “positive” rating and issued a $55.00 target price on shares of Millicom International Cellular in a research note on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $59.33.

Millicom International Cellular Stock Performance

NASDAQ:TIGO opened at $71.98 on Monday. The stock has a market capitalization of $12.39 billion, a P/E ratio of 9.17 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.81. Millicom International Cellular SA has a 1 year low of $26.35 and a 1 year high of $75.25. The firm has a 50 day moving average of $65.55 and a 200-day moving average of $55.63.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the company earned $0.18 EPS. Millicom International Cellular’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Millicom International Cellular 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.