Fifth Third Bancorp Purchases Shares of 2,736 Millicom International Cellular S.A. (NASDAQ:TIGO)

Fifth Third Bancorp acquired a new position in Millicom International Cellular S.A. (NASDAQ:TIGO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,736 shares of the technology company’s stock, valued at approximately $67,000.

Several other institutional investors have also recently made changes to their positions in TIGO. Tower Research Capital LLC TRC increased its holdings in Millicom International Cellular by 1,431.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,303 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Millicom International Cellular in the fourth quarter worth $87,000. SG Americas Securities LLC raised its position in shares of Millicom International Cellular by 13.1% during the 1st quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company’s stock valued at $160,000 after purchasing an additional 920 shares during the period. Silver Lake Advisory LLC purchased a new position in shares of Millicom International Cellular during the 2nd quarter valued at $260,000. Finally, Simplicity Wealth LLC bought a new position in Millicom International Cellular in the 2nd quarter worth $429,000.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. began coverage on Millicom International Cellular in a report on Tuesday, May 28th. They set an “overweight” rating and a $30.00 price target on the stock. Hsbc Global Res cut Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. UBS Group raised shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price objective for the company from $25.00 to $33.00 in a report on Thursday, August 15th. HSBC cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Scotiabank restated a “sector perform” rating and set a $30.00 target price on shares of Millicom International Cellular in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Millicom International Cellular has a consensus rating of “Moderate Buy” and a consensus price target of $28.20.

Millicom International Cellular Stock Down 0.3 %

Shares of TIGO opened at $26.61 on Tuesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.86 and a quick ratio of 0.84. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 532.20 and a beta of 1.22. Millicom International Cellular S.A. has a 1 year low of $14.46 and a 1 year high of $26.75. The business’s 50 day simple moving average is $24.79 and its 200-day simple moving average is $22.04.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Friday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.05). Millicom International Cellular had a net margin of 0.12% and a return on equity of 0.08%. The business had revenue of $1.46 billion for the quarter. During the same quarter last year, the firm posted ($0.13) earnings per share.

Millicom International Cellular Company 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.