Quantbot Technologies LP Boosts Stake in Millicom International Cellular SA $TIGO

Key Points

• Quantbot Technologies LP significantly increased its stake in Millicom International Cellular, boosting holdings by 803.5% in Q1, owning 110,566 shares valued at approximately $3.35 million by the quarter's end.
• Multiple hedge funds are actively adjusting their investments in Millicom, with firms like Wells Fargo and Zurcher Kantonalbank notably increasing their stakes by over 65% to 72% in recent quarters.
• Analysts have varying views on Millicom's stock, with upgrades to "strong-buy" and target price increases from firms like UBS and JPMorgan, although recent earnings missed expectations, reporting $0.51 EPS against a consensus of $0.54.

Quantbot Technologies LP lifted its position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 803.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 110,566 shares of the technology company's stock after buying an additional 98,328 shares during the quarter. Quantbot Technologies LP owned approximately 0.06% of Millicom International Cellular worth $3,347,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TIGO. Geode Capital Management LLC increased its holdings in Millicom International Cellular by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company's stock valued at $3,868,000 after acquiring an additional 1,500 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Millicom International Cellular by 72.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock valued at $122,000 after purchasing an additional 2,055 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Millicom International Cellular by 37.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 108,680 shares of the technology company's stock valued at $2,720,000 after purchasing an additional 29,730 shares during the last quarter. Park West Asset Management LLC purchased a new position in shares of Millicom International Cellular during the 4th quarter worth approximately $6,165,000. Finally, Lazard Asset Management LLC increased its stake in shares of Millicom International Cellular by 65.1% during the 4th quarter. Lazard Asset Management LLC now owns 45,789 shares of the technology company's stock worth $1,145,000 after purchasing an additional 18,059 shares in the last quarter.

Millicom International Cellular Trading Up 2.0%

NASDAQ TIGO traded up $0.93 during trading hours on Friday, hitting $47.19. 1,171,391 shares of the company's stock were exchanged, compared to its average volume of 1,122,952. The business's 50 day moving average is $39.97 and its 200-day moving average is $34.40. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89. Millicom International Cellular SA has a 12-month low of $23.61 and a 12-month high of $47.26. The firm has a market capitalization of $8.12 billion, a P/E ratio of 8.32 and a beta of 1.04.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. UBS Group boosted their price target on Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a report on Friday, May 16th. Zacks Research upgraded Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. JPMorgan Chase & Co. lifted their price objective on Millicom International Cellular from $50.00 to $55.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, Scotiabank boosted their target price on shares of Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Millicom International Cellular has a consensus rating of "Moderate Buy" and an average target price 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.