Millicom International Cellular (NASDAQ:TIGO) Shares Gap Up to $17.34

Millicom International Cellular S.A. (NASDAQ:TIGO – Get Rating)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $17.34, but opened at $17.93. Millicom International Cellular shares last traded at $17.93, with a volume of 30,244 shares.

Wall Street Analysts Forecast Growth

TIGO has been the subject of several research analyst reports. UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Tuesday, January 17th. JPMorgan Chase & Co. cut Millicom International Cellular from an “overweight” rating to a “neutral” rating in a research note on Thursday.

Millicom International Cellular Stock Performance

The company has a debt-to-equity ratio of 1.82, a current ratio of 0.97 and a quick ratio of 0.95. The firm has a fifty day simple moving average of $17.57 and a 200 day simple moving average of $14.33. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 12.04 and a beta of 1.00.

Millicom International Cellular (NASDAQ:TIGO – Get Rating) last issued its quarterly earnings data on Friday, February 10th. The technology company reported $0.33 EPS for the quarter. Millicom International Cellular had a return on equity of 1.85% and a net margin of 3.15%. The company had revenue of $1.38 billion for the quarter.

Institutional Trading of Millicom International Cellular

Institutional investors have recently made changes to their positions in the company. IFP Advisors Inc acquired a new stake in shares of Millicom International Cellular in the third quarter worth approximately $64,000. Advisor Group Holdings Inc. boosted its stake 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 acquiring an additional 816 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Millicom International Cellular in the first quarter worth approximately $50,000. UBS Group AG boosted its stake in shares of Millicom International Cellular by 539.7% in the first quarter. UBS Group AG now owns 2,482 shares of the technology company’s stock worth $62,000 after acquiring an additional 2,094 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Millicom International Cellular in the first quarter worth approximately $161,000. 18.68% of the stock is owned by institutional investors and hedge funds.

About Millicom International Cellular

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Millicom International Cellular SA engages in the cable and mobile services. It operates through the Latin America and Africa geographical segments. The Latin America segment includes the Guatemala and Honduras joint ventures. The Africa segment comprises of the operations in Tanzania. The company was founded on December 14, 1990 and is headquartered in Luxembourg.