Millicom International Cellular S.A. (NASDAQ:TIGO – Get Rating) shares gapped down prior to trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $29.05 to $18.00. The stock had previously closed at $15.16, but opened at $14.09. The Goldman Sachs Group currently has a neutral rating on the stock. Millicom International Cellular shares last traded at $14.22, with a volume of 2,306 shares.
Several other analysts have also commented on the company. Scotiabank cut their price objective on Millicom International Cellular from $36.10 to $26.30 in a report on Thursday, May 19th. HSBC reaffirmed a “reduce” rating and issued a $14.00 price objective on shares of Millicom International Cellular in a report on Monday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.56.
Hedge Funds Weigh In On Millicom International Cellular
Several large investors have recently made changes to their positions in the business. AlphaMark Advisors LLC lifted its position in shares of Millicom International Cellular by 108.9% in the first quarter. AlphaMark Advisors LLC now owns 1,274 shares of the technology company’s stock valued at $32,000 after acquiring an additional 664 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of Millicom International Cellular by 261.5% in the first quarter. Advisor Group Holdings Inc. now owns 1,128 shares of the technology company’s stock worth $28,000 after purchasing an additional 816 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Millicom International Cellular by 34.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,474 shares of the technology company’s stock worth $163,000 after purchasing an additional 1,650 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Millicom International Cellular by 2.1% in the second quarter. Goldman Sachs Group Inc. now owns 83,571 shares of the technology company’s stock worth $1,201,000 after purchasing an additional 1,735 shares during the last quarter. Finally, Bridgewater Associates LP increased its holdings in shares of Millicom International Cellular by 3.5% in the second quarter. Bridgewater Associates LP now owns 57,936 shares of the technology company’s stock worth $833,000 after purchasing an additional 1,981 shares during the last quarter. 10.83% of the stock is currently owned by hedge funds and other institutional investors.
Millicom International Cellular Stock Down 6.5 %
The company has a quick ratio of 0.90, a current ratio of 0.95 and a debt-to-equity ratio of 1.85. The company has a fifty day moving average price of $14.78 and a 200-day moving average price of $19.77. The stock has a market capitalization of $1.44 billion, a P/E ratio of 1.94 and a beta of 0.91.
About Millicom International Cellular
Millicom International Cellular SA provides cable and mobile services in Latin America and Africa. The company offers mobile services, including mobile data and voice; short message service; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.