Millicom International Cellular (NASDAQ:TIGO) Rating Lowered to Sell at Zacks Investment Research

Share on StockTwits

Zacks Investment Research lowered shares of Millicom International Cellular (NASDAQ:TIGO) from a hold rating to a sell rating in a research report report published on Saturday morning, Zacks.com reports.

According to Zacks, “MILLICOM INTL is a leading international operator of cellular telephony services, primarily in emerging markets where the basic telephone service is often inadequate and where economic development and change are creating new demand for communication services. MIC has sought to establish an early presence in markets with little or no cellular service by applying for cellular licenses, primarily through joint ventures with prominent local business partners. “

Separately, Barclays upgraded shares of Millicom International Cellular from an equal weight rating to an overweight rating in a report on Friday, April 26th.

Shares of TIGO opened at $49.60 on Friday. Millicom International Cellular has a one year low of $48.65 and a one year high of $74.71. The company has a 50-day moving average of $53.59 and a two-hundred day moving average of $57.49. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 171.03 and a beta of 0.74. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.79 and a quick ratio of 0.77.

Several institutional investors and hedge funds have recently made changes to their positions in TIGO. Royal Bank of Canada raised its holdings in Millicom International Cellular by 35.4% during the 2nd quarter. Royal Bank of Canada now owns 24,500 shares of the company’s stock worth $1,365,000 after purchasing an additional 6,400 shares during the last quarter. Jane Street Group LLC bought a new stake in Millicom International Cellular during the 2nd quarter worth about $2,989,000. Morgan Stanley raised its holdings in Millicom International Cellular by 6,530.7% during the 2nd quarter. Morgan Stanley now owns 221,996 shares of the company’s stock worth $12,366,000 after purchasing an additional 218,648 shares during the last quarter. Bank of America Corp DE grew its position in shares of Millicom International Cellular by 717.4% during the 2nd quarter. Bank of America Corp DE now owns 9,662 shares of the company’s stock worth $537,000 after buying an additional 8,480 shares during the period. Finally, Parametric Portfolio Associates LLC acquired a new position in shares of Millicom International Cellular during the 2nd quarter worth about $870,000. Institutional investors own 6.59% of the company’s stock.

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.

Further Reading: Google Finance

Get a free copy of the Zacks research report on Millicom International Cellular (TIGO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Millicom International Cellular Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Millicom International Cellular and related companies with MarketBeat.com's FREE daily email newsletter.