Counterpoint Mutual Funds LLC Takes Position in Millicom International Cellular SA $TIGO

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

Several other institutional investors have also made changes to their positions in TIGO. Royal Bank of Canada increased its stake in 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 valued at $1,398,000 after acquiring an additional 14,990 shares during the period. AQR Capital Management LLC lifted its stake in Millicom International Cellular by 5.0% during the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock worth $290,000 after purchasing an additional 453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Millicom International Cellular during the first quarter valued at approximately $2,188,000. Goldman Sachs Group Inc. acquired a new stake in Millicom International Cellular during the first quarter valued at approximately $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Millicom International Cellular during the first quarter valued at approximately $8,504,000.

Analyst Upgrades and Downgrades

TIGO has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. 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 note on Friday, March 6th. Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. UBS Group lowered Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price objective for the company. in a research note on Tuesday, May 26th. Finally, Scotiabank lifted their price objective on Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.28.

Millicom International Cellular Stock Performance

NASDAQ:TIGO opened at $93.76 on Friday. The stock 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 current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. Millicom International Cellular SA has a 1 year low of $36.59 and a 1 year high of $95.38. The firm has a 50 day moving average of $85.67 and a 200-day moving average of $73.19.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS 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 analyst estimates of $1.99 billion. As a group, sell-side analysts anticipate that Millicom International Cellular SA will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the sale, the insider owned 165,344 shares in the company, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

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.