Campbell & CO Investment Adviser LLC Boosts Stake in Millicom International Cellular SA $TIGO

Key Points

• Campbell & CO Investment Adviser LLC has significantly increased its holdings in Millicom International Cellular SA by 67%, now owning 54,314 shares valued at approximately $1.64 million.
• Millicom reported weaker than expected earnings, with an EPS of $0.51 against the consensus estimate of $0.54, and revenue of $1.37 billion compared to expectations of $1.40 billion.
• Several financial analysts upgraded Millicom’s stock ratings, with targets increasing; JPMorgan set a new price target at $55.00, indicating strong market confidence.

Campbell & CO Investment Adviser LLC boosted its position in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 67.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,314 shares of the technology company's stock after buying an additional 21,781 shares during the quarter. Campbell & CO Investment Adviser LLC's holdings in Millicom International Cellular were worth $1,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Dodge & Cox purchased a new stake in Millicom International Cellular in the first quarter worth $263,401,000. Jump Financial LLC purchased a new stake in Millicom International Cellular in the first quarter worth $4,034,000. Price T Rowe Associates Inc. MD increased its position in Millicom International Cellular by 5,033.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,578,894 shares of the technology company's stock worth $168,874,000 after buying an additional 5,470,214 shares during the last quarter. Quantbot Technologies LP increased its position in Millicom International Cellular by 803.5% in the first quarter. Quantbot Technologies LP now owns 110,566 shares of the technology company's stock worth $3,347,000 after buying an additional 98,328 shares during the last quarter. Finally, Northern Trust Corp purchased a new stake in Millicom International Cellular in the first quarter worth $9,740,000.

Millicom International Cellular Price Performance

Shares of TIGO traded down $0.28 during midday trading on Friday, hitting $48.31. 787,126 shares of the company traded hands, compared to its average volume of 1,206,792. The stock has a 50-day moving average of $41.08 and a 200-day moving average of $35.19. Millicom International Cellular SA has a one year low of $23.61 and a one year high of $48.92. The firm has a market cap of $8.31 billion, a P/E ratio of 8.52 and a beta of 1.08. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.87.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%.The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.40 billion. As a group, sell-side analysts predict that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Zacks Research raised Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. UBS Group raised their target price on Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a research report on Friday, May 16th. Scotiabank lifted their price target on Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a research report on Tuesday, August 19th. JPMorgan Chase & Co. boosted their price objective on Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Finally, Wall Street Zen raised Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a report on Monday, August 25th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $40.43.

Millicom International Cellular Profile

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.