Renaissance Group LLC Has $9.80 Million Stock Position in Millicom International Cellular SA $TIGO

Renaissance Group LLC reduced its position in Millicom International Cellular SA (NASDAQ:TIGO) by 30.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 201,907 shares of the technology company’s stock after selling 90,173 shares during the period. Renaissance Group LLC’s holdings in Millicom International Cellular were worth $9,801,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Royal Bank of Canada boosted its stake in Millicom International Cellular by 48.1% in the 1st quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock worth $1,398,000 after purchasing an additional 14,990 shares during the period. AQR Capital Management LLC raised its position 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 valued at $290,000 after buying an additional 453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Millicom International Cellular in the 1st quarter worth about $2,188,000. Goldman Sachs Group Inc. acquired a new stake in Millicom International Cellular during the 1st quarter worth about $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Millicom International Cellular during the 1st quarter valued at about $8,504,000.

Millicom International Cellular Trading Up 2.7%

Shares of Millicom International Cellular stock opened at $66.95 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76. Millicom International Cellular SA has a 1 year low of $25.50 and a 1 year high of $67.26. The company’s fifty day simple moving average is $55.80 and its 200-day simple moving average is $50.14. The company has a market cap of $11.52 billion, a price-to-earnings ratio of 10.25 and a beta of 0.93.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on TIGO. Zacks Research downgraded shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Wall Street Zen raised shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Scotiabank lifted their price objective on shares of Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a research note on Friday, November 7th. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. increased their price target on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.95.

About Millicom International Cellular

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.