Triodos Investment Management BV Sells 99,000 Shares of Millicom International Cellular SA $TIGO

Triodos Investment Management BV reduced its stake in Millicom International Cellular SA (NASDAQ:TIGO) by 12.3% during the third quarter, HoldingsChannel reports. The firm owned 709,000 shares of the technology company’s stock after selling 99,000 shares during the period. Millicom International Cellular comprises about 2.5% of Triodos Investment Management BV’s portfolio, making the stock its 15th biggest holding. Triodos Investment Management BV’s holdings in Millicom International Cellular were worth $34,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of TIGO. Smartleaf Asset Management LLC increased its holdings 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 worth $25,000 after buying an additional 314 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Millicom International Cellular in the third quarter worth $26,000. Alpine Bank Wealth Management bought a new position in Millicom International Cellular in the third quarter valued at $28,000. Ameritas Advisory Services LLC purchased a new stake in Millicom International Cellular during the third quarter valued at about $32,000. Finally, CWM LLC purchased a new stake in Millicom International Cellular during the third quarter valued at about $42,000.

Millicom International Cellular Price Performance

TIGO opened at $66.08 on Friday. 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’s 50 day simple moving average is $58.64 and its 200 day simple moving average is $51.97. The firm has a market cap of $11.37 billion, a price-to-earnings ratio of 10.12 and a beta of 0.93. Millicom International Cellular SA has a 1 year low of $25.50 and a 1 year high of $68.93.

Analyst Upgrades and Downgrades

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

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.