Millicom International Cellular (NASDAQ:TIGO) Shares Gap Up to $24.61

Millicom International Cellular S.A. (NASDAQ:TIGO) gapped up before the market opened on Friday . The stock had previously closed at $24.61, but opened at $26.00. Millicom International Cellular shares last traded at $26.15, with a volume of 60,980 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TIGO. HSBC downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. started coverage on Millicom International Cellular in a report on Tuesday, May 28th. They set an “overweight” rating and a $30.00 target price for the company. Scotiabank boosted their target price on Millicom International Cellular from $26.80 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, June 21st. Finally, Hsbc Global Res cut Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Millicom International Cellular presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Millicom International Cellular Stock Performance

The stock has a market cap of $2.63 billion, a PE ratio of 492.20 and a beta of 1.22. The stock has a fifty day simple moving average of $24.38 and a two-hundred day simple moving average of $20.99. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.84 and a current ratio of 0.86.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Wednesday, May 8th. The technology company reported $0.54 EPS for the quarter. The company had revenue of $1.49 billion during the quarter. Millicom International Cellular had a return on equity of 0.08% and a net margin of 0.12%.

Hedge Funds Weigh In On Millicom International Cellular

Several large investors have recently added to or reduced their stakes in TIGO. Tower Research Capital LLC TRC lifted its stake in Millicom International Cellular by 1,431.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock valued at $25,000 after buying an additional 1,303 shares during the last quarter. Signaturefd LLC grew its holdings in Millicom International Cellular by 217.9% during the second quarter. Signaturefd LLC now owns 1,138 shares of the technology company’s stock worth $28,000 after acquiring an additional 780 shares during the period. Fifth Third Bancorp acquired a new position in Millicom International Cellular during the second quarter worth about $67,000. Principal Securities Inc. acquired a new position in Millicom International Cellular during the fourth quarter worth about $87,000. Finally, Summit Securities Group LLC acquired a new position in Millicom International Cellular during the second quarter worth about $98,000.

About Millicom International Cellular

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.