Nordea Investment Management AB Sells 27,574 Shares of Millicom International Cellular SA $TIGO

Nordea Investment Management AB lessened its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 11.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 204,852 shares of the technology company’s stock after selling 27,574 shares during the quarter. Nordea Investment Management AB owned approximately 0.12% of Millicom International Cellular worth $11,375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its position in shares of Millicom International Cellular by 155.4% in the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after buying an additional 314 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Millicom International Cellular during the 3rd quarter worth approximately $26,000. Alpine Bank Wealth Management bought a new stake in Millicom International Cellular in the 3rd quarter valued at $28,000. GAMMA Investing LLC raised its stake in Millicom International Cellular by 140.8% in the 4th quarter. GAMMA Investing LLC now owns 573 shares of the technology company’s stock valued at $32,000 after acquiring an additional 335 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in Millicom International Cellular during the 3rd quarter valued at $32,000.

Millicom International Cellular Stock Performance

Shares of NASDAQ:TIGO opened at $76.95 on Thursday. Millicom International Cellular SA has a 12-month low of $26.35 and a 12-month high of $77.33. The company’s 50 day moving average price is $66.98 and its two-hundred day moving average price is $56.16. The firm has a market cap of $13.24 billion, a PE ratio of 9.80 and a beta of 0.90. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.81.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.49 billion. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. Equities research analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Scotiabank cut shares of Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and reduced their price objective for the stock from $46.80 to $43.00 in a research report on Wednesday, February 11th. Morgan Stanley restated a “positive” rating and set a $55.00 target price on shares of Millicom International Cellular in a research note on Thursday, February 26th. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Friday, March 6th. Zacks Research lowered shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Friday, March 6th. Finally, UBS Group raised shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price target for the company from $49.00 to $70.00 in a report on Thursday, January 15th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Millicom International Cellular presently has an average rating of “Hold” and a consensus price target of $59.33.

About Millicom International Cellular

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.