Millicom International Cellular (NASDAQ:TIGO) Cut to “Sell” at Zacks Investment Research

Millicom International Cellular (NASDAQ:TIGO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday, 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 raised Millicom International Cellular from an “equal weight” rating to an “overweight” rating in a report on Friday, April 26th.



NASDAQ TIGO opened at $49.06 on Friday. The company has a market cap of $4.99 billion, a PE ratio of 169.17 and a beta of 0.74. The stock’s 50 day simple moving average is $54.10 and its 200-day simple moving average is $57.68. Millicom International Cellular has a 1-year low of $48.65 and a 1-year high of $74.71. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.79 and a quick ratio of 0.77.

Large investors have recently bought and sold shares of the stock. Resources Investment Advisors LLC. acquired a new stake in shares of Millicom International Cellular in the second quarter valued at approximately $28,000. Wells Fargo & Company MN increased its holdings in shares of Millicom International Cellular by 195.5% in the second quarter. Wells Fargo & Company MN now owns 3,425 shares of the company’s stock valued at $191,000 after purchasing an additional 2,266 shares during the last quarter. Patriot Investment Management Inc. acquired a new stake in shares of Millicom International Cellular in the first quarter valued at approximately $295,000. Bank of America Corp DE increased its holdings in shares of Millicom International Cellular by 717.4% in the second quarter. Bank of America Corp DE now owns 9,662 shares of the company’s stock valued at $537,000 after purchasing an additional 8,480 shares during the last quarter. Finally, Morningstar Investment Services LLC acquired a new stake in shares of Millicom International Cellular in the second quarter valued at approximately $681,000. 6.42% of the stock is owned by hedge funds and other institutional investors.

Millicom International Cellular Company Profile

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.

Featured Article: Options Trading

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.