Millicom International Cellular SA $TIGO Position Lessened by Renaissance Group LLC

Renaissance Group LLC lowered its stake in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 30.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 201,907 shares of the technology company’s stock after selling 90,173 shares during the quarter. Renaissance Group LLC owned approximately 0.12% of Millicom International Cellular worth $9,801,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. acquired a new position in shares of Millicom International Cellular during the third quarter valued at $26,000. Alpine Bank Wealth Management bought a new stake in Millicom International Cellular in the 3rd quarter valued at about $28,000. CWM LLC acquired a new position in Millicom International Cellular during the 3rd quarter valued at about $42,000. Farther Finance Advisors LLC grew its position in Millicom International Cellular by 332.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,025 shares of the technology company’s stock worth $50,000 after purchasing an additional 788 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Millicom International Cellular by 55.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock worth $53,000 after purchasing an additional 502 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TIGO shares. JPMorgan Chase & Co. boosted their price objective on Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Zacks Research lowered Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price target for the stock from $49.00 to $70.00 in a research note on Thursday, January 15th. Wall Street Zen upgraded shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.95.

Millicom International Cellular Trading Up 2.7%

Shares of TIGO stock opened at $66.95 on Friday. The stock has a 50-day simple moving average of $55.80 and a 200 day simple moving average of $50.14. The stock has a market capitalization of $11.52 billion, a P/E ratio of 10.25 and a beta of 0.93. Millicom International Cellular SA has a fifty-two week low of $25.50 and a fifty-two week high of $67.26. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 1.76.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Thursday, November 6th. The technology company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.21). Millicom International Cellular had a return on equity of 10.81% and a net margin of 19.58%.The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. The company’s revenue was down .8% compared to the same quarter last year. On average, sell-side analysts expect that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular 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.