WBI Investments LLC Invests $976,000 in Millicom International Cellular SA $TIGO

WBI Investments LLC bought a new stake in Millicom International Cellular SA (NASDAQ:TIGO) in the 2nd quarter, Holdings Channel.com reports. The fund bought 26,038 shares of the technology company’s stock, valued at approximately $976,000.

Other large investors have also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in Millicom International Cellular in the 2nd quarter worth about $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Millicom International Cellular in the first quarter worth approximately $84,000. Amalgamated Bank acquired a new stake in shares of Millicom International Cellular in the second quarter worth approximately $220,000. Bond & Devick Financial Network Inc. purchased a new stake in Millicom International Cellular in the second quarter valued at approximately $225,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Millicom International Cellular by 65.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company’s stock worth $190,000 after purchasing an additional 2,489 shares during the last quarter.

Millicom International Cellular Stock Performance

Shares of NASDAQ:TIGO opened at $53.53 on Tuesday. The business’s 50-day simple moving average is $48.02 and its 200 day simple moving average is $42.57. The company has a market cap of $9.21 billion, a P/E ratio of 9.44 and a beta of 1.11. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89. Millicom International Cellular SA has a one year low of $23.61 and a one year high of $53.62.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Thursday, November 6th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.21). Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, sell-side analysts forecast that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on TIGO. Wall Street Zen raised Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. UBS Group lowered Millicom International Cellular from a “buy” rating to a “neutral” rating and upped their price target for the stock from $39.50 to $49.00 in a research note on Thursday, September 11th. JPMorgan Chase & Co. raised their price objective on Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. Finally, Scotiabank increased their target price on shares of Millicom International Cellular from $46.10 to $46.80 and gave the stock a “sector perform” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.47.

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.