Quantbot Technologies LP Acquires New Position in Millicom International Cellular SA $TIGO

Quantbot Technologies LP bought a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 45,966 shares of the technology company’s stock, valued at approximately $2,231,000.

Other large investors also recently made changes to their positions in the company. Segall Bryant & Hamill LLC boosted its position in shares of Millicom International Cellular by 0.3% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 97,577 shares of the technology company’s stock worth $3,656,000 after purchasing an additional 300 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Millicom International Cellular by 155.4% in the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after buying an additional 314 shares during the period. AQR Capital Management LLC lifted its stake in Millicom International Cellular by 5.0% in 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. EverSource Wealth Advisors LLC boosted its holdings in Millicom International Cellular by 32.1% during the third quarter. EverSource Wealth Advisors LLC now owns 1,867 shares of the technology company’s stock worth $91,000 after buying an additional 454 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Millicom International Cellular during the 3rd quarter worth about $26,000.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. 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. Scotiabank lowered shares of Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and cut their target price for the stock from $46.80 to $43.00 in a report on Wednesday, February 11th. JPMorgan Chase & Co. lifted their price target on shares of Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Morgan Stanley restated a “positive” rating and issued a $55.00 price objective on shares of Millicom International Cellular in a research report on Thursday, February 26th. Finally, UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their target price for the company from $49.00 to $70.00 in a research note on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $53.40.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO opened at $72.02 on Wednesday. The company has a fifty day moving average price of $61.01 and a 200 day moving average price of $53.38. The firm has a market cap of $12.39 billion, a PE ratio of 9.17 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.81. Millicom International Cellular SA has a 1-year low of $25.50 and a 1-year high of $75.25.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share. Research analysts predict 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, 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.