56,020 Shares in Millicom International Cellular SA $TIGO Acquired by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC bought a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 56,020 shares of the technology company’s stock, valued at approximately $4,198,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in shares of Millicom International Cellular by 48.1% in the first quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock worth $1,398,000 after buying an additional 14,990 shares during the last quarter. AQR Capital Management LLC grew its stake in Millicom International Cellular by 5.0% in the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock valued at $290,000 after buying an additional 453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Millicom International Cellular in the 1st quarter worth $2,188,000. Goldman Sachs Group Inc. bought a new position in Millicom International Cellular in the 1st quarter worth $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Millicom International Cellular during the 1st quarter worth $8,504,000.

Analysts Set New Price Targets

TIGO has been the topic of several research analyst reports. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Friday, March 6th. UBS Group downgraded Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price for the company. in a research note on Tuesday, May 26th. JPMorgan Chase & Co. raised their target price on Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Wall Street Zen lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Millicom International Cellular has a consensus rating of “Moderate Buy” and an average price target of $77.28.

Insider Activity at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $88.51, for a total value of $4,362,480.88. Following the completion of the sale, the insider owned 165,344 shares in the company, valued at approximately $14,634,597.44. This trade represents a 22.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Millicom International Cellular Price Performance

Shares of TIGO opened at $93.76 on Friday. The company has a 50-day simple moving average of $85.67 and a 200-day simple moving average of $73.19. The firm has a market capitalization of $15.85 billion, a P/E ratio of 12.74 and a beta of 0.92. 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 $36.59 and a 52 week high of $95.38.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, topping 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 business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. On average, equities research analysts expect that Millicom International Cellular SA will post 1.78 earnings per share for the current year.

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.