Clifford Capital Partners LLC Trims Position in Millicom International Cellular S.A. (NASDAQ:TIGO)

Clifford Capital Partners LLC cut its holdings in shares of Millicom International Cellular S.A. (NASDAQ:TIGO) by 51.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,296 shares of the technology company’s stock after selling 16,379 shares during the quarter. Clifford Capital Partners LLC’s holdings in Millicom International Cellular were worth $415,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC increased its stake in shares of Millicom International Cellular by 217.9% during the second quarter. Signaturefd LLC now owns 1,138 shares of the technology company’s stock valued at $28,000 after buying an additional 780 shares during the period. Blue Trust Inc. grew its stake in Millicom International Cellular by 159.7% in the third quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock worth $60,000 after purchasing an additional 1,367 shares during the period. Fifth Third Bancorp purchased a new stake in Millicom International Cellular in the second quarter worth $67,000. Summit Securities Group LLC purchased a new stake in Millicom International Cellular in the second quarter worth $98,000. Finally, AQR Capital Management LLC purchased a new stake in Millicom International Cellular in the second quarter worth $215,000.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Millicom International Cellular in a research note on Friday, September 6th. They issued an “overweight” rating and a $35.00 price target on the stock. Scotiabank raised Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $30.00 to $37.30 in a research note on Friday, September 20th. Finally, UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and upped their price target for the stock from $25.00 to $33.00 in a research note on Thursday, August 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.66.

Millicom International Cellular Price Performance

NASDAQ TIGO opened at $25.61 on Wednesday. Millicom International Cellular S.A. has a 12 month low of $15.55 and a 12 month high of $28.75. The stock’s fifty day moving average price is $27.08 and its 200-day moving average price is $25.68. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38). The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) earnings per share. On average, sell-side analysts expect that Millicom International Cellular S.A. will post 2.33 earnings per share for the current year.

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.