Renaissance Technologies LLC Grows Stock Holdings in Millicom International Cellular SA $TIGO

Renaissance Technologies LLC grew its position in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 18.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 549,792 shares of the technology company’s stock after purchasing an additional 87,400 shares during the period. Renaissance Technologies LLC owned about 0.33% of Millicom International Cellular worth $41,201,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Millicom International Cellular by 3.9% during the 4th quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company’s stock valued at $372,202,000 after purchasing an additional 253,891 shares during the last quarter. State Street Corp lifted its position in Millicom International Cellular by 14.9% in the 4th quarter. State Street Corp now owns 2,279,268 shares of the technology company’s stock worth $126,364,000 after buying an additional 296,319 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in Millicom International Cellular in the first quarter worth approximately $50,664,000. Boston Partners boosted its stake in Millicom International Cellular by 2.7% in the fourth quarter. Boston Partners now owns 1,603,730 shares of the technology company’s stock worth $88,911,000 after buying an additional 41,765 shares in the last quarter. Finally, Northern Trust Corp grew its position in Millicom International Cellular by 128.2% during the third quarter. Northern Trust Corp now owns 1,271,086 shares of the technology company’s stock valued at $61,699,000 after acquiring an additional 714,158 shares during the last quarter.

Analysts Set New Price Targets

TIGO has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Scotiabank increased their target price on shares of Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a report on Wednesday, May 27th. Zacks Research cut shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings raised shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. Finally, UBS Group upped their price target on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $79.28.

Millicom International Cellular Price Performance

TIGO opened at $95.38 on Tuesday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62. Millicom International Cellular SA has a 52-week low of $39.01 and a 52-week high of $100.75. The stock has a market capitalization of $16.12 billion, a PE ratio of 12.96 and a beta of 0.92. The stock’s 50 day moving average price is $90.14 and its 200-day moving average price is $77.97.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%.The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. On average, equities research analysts predict that Millicom International Cellular SA will post 1.78 EPS for the current year.

Insider Transactions at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $88.51, for a total value of $4,362,480.88. Following the completion of the transaction, the insider directly owned 165,344 shares in the company, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 50,140 shares of company stock worth $4,425,461.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.