Renaissance Technologies LLC Purchases 87,400 Shares of Millicom International Cellular SA $TIGO

Renaissance Technologies LLC grew its position in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 18.9% during the first quarter, Holdings Channel reports. The fund owned 549,792 shares of the technology company’s stock after purchasing an additional 87,400 shares during the period. Renaissance Technologies LLC’s holdings in Millicom International Cellular were worth $41,201,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP lifted its stake in shares of Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after purchasing an additional 418 shares during the period. Altshuler Shaham Ltd purchased a new stake in Millicom International Cellular in the fourth quarter worth $26,000. Blue Trust Inc. raised its holdings in Millicom International Cellular by 736.2% in the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after purchasing an additional 427 shares in the last quarter. Spire Wealth Management bought a new position in Millicom International Cellular in the fourth quarter worth $29,000. Finally, GAMMA Investing LLC raised its holdings in Millicom International Cellular by 140.8% in the fourth quarter. GAMMA Investing LLC now owns 573 shares of the technology company’s stock worth $32,000 after purchasing an additional 335 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Zacks Research cut shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. JPMorgan Chase & Co. lifted their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Scotiabank boosted their price objective on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a research note on Wednesday, May 27th. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. Finally, UBS Group raised their target price on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Millicom International Cellular presently has an average rating of “Hold” and a consensus price target of $79.28.

Insider Buying and Selling

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the completion of the sale, the insider directly owned 165,344 shares in the company, valued at approximately $14,634,597.44. This trade represents a 22.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 50,140 shares of company stock worth $4,425,461.

Millicom International Cellular Trading Up 0.9%

Millicom International Cellular stock opened at $95.38 on Tuesday. Millicom International Cellular SA has a 12 month low of $39.01 and a 12 month high of $100.75. The company has a market capitalization of $16.12 billion, a price-to-earnings ratio of 12.96 and a beta of 0.92. The business’s fifty day simple moving average is $90.14 and its two-hundred day simple moving average is $77.97. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. As a group, equities analysts predict that Millicom International Cellular SA will post 1.78 earnings per share for the current fiscal year.

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.