Counterpoint Mutual Funds LLC Makes New $1.96 Million Investment in Millicom International Cellular SA $TIGO

Key Points

• Counterpoint Mutual Funds LLC has made a new investment of approximately $1.96 million in Millicom International Cellular SA by acquiring 52,363 shares during the second quarter.
• Several large investors, including Two Sigma Investments LP, have significantly increased their stakes in Millicom, reflecting growing interest in the company.
• Wall Street analysts have issued varied ratings on Millicom stock, with a consensus rating of "Moderate Buy" and a target price of around $42.02.

Counterpoint Mutual Funds LLC acquired a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 52,363 shares of the technology company's stock, valued at approximately $1,962,000.

A number of other large investors also recently added to or reduced their stakes in the stock. State of Wyoming purchased a new stake in shares of Millicom International Cellular during the fourth quarter worth $49,000. Two Sigma Investments LP grew its holdings in shares of Millicom International Cellular by 229.3% during the fourth quarter. Two Sigma Investments LP now owns 57,113 shares of the technology company's stock worth $1,428,000 after buying an additional 39,771 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Millicom International Cellular during the fourth quarter worth $988,000. Squarepoint Ops LLC purchased a new stake in shares of Millicom International Cellular during the fourth quarter worth $1,319,000. Finally, Vident Advisory LLC grew its holdings in shares of Millicom International Cellular by 24.7% during the fourth quarter. Vident Advisory LLC now owns 10,440 shares of the technology company's stock worth $261,000 after buying an additional 2,071 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TIGO. Zacks Research raised shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. UBS Group lowered shares of Millicom International Cellular from a "buy" rating to a "neutral" rating and upped their target price for the stock from $39.50 to $49.00 in a report on Thursday, September 11th. Scotiabank upped their target price on shares of Millicom International Cellular from $37.00 to $46.10 and gave the stock a "sector perform" rating in a report on Tuesday, August 19th. Wall Street Zen raised shares of Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a report on Sunday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.02.

Millicom International Cellular Stock Down 2.1%

Shares of TIGO opened at $48.65 on Tuesday. The stock has a market capitalization of $8.37 billion, a PE ratio of 8.58 and a beta of 1.08. Millicom International Cellular SA has a 1 year low of $23.61 and a 1 year high of $50.78. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89. The company's 50-day simple moving average is $44.53 and its 200-day simple moving average is $37.56.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.03). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%. Analysts forecast that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular Company 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.

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