Millicom International Cellular (NASDAQ:TIGO) Director Sells $20,993.28 in Stock

Millicom International Cellular SA (NASDAQ:TIGO) Director Bruce Churchill sold 284 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $73.92, for a total value of $20,993.28. Following the transaction, the director directly owned 26,729 shares in the company, valued at $1,975,807.68. This trade represents a 1.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Millicom International Cellular Price Performance

Shares of TIGO stock opened at $94.08 on Thursday. The firm has a market cap of $15.90 billion, a price-to-earnings ratio of 12.78 and a beta of 0.92. Millicom International Cellular SA has a 12 month low of $36.72 and a 12 month high of $95.75. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. The stock has a 50-day moving average price of $86.28 and a 200 day moving average price of $74.19.

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

Analysts Set New Price Targets

A number of brokerages recently commented on TIGO. Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Wall Street Zen lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price target on the stock. in a research report on Tuesday, May 26th. JPMorgan Chase & Co. lifted their price objective on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Finally, Weiss Ratings raised shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Millicom International Cellular presently has an average rating of “Moderate Buy” and an average target price of $77.28.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TIGO. Royal Bank of Canada boosted its holdings in shares of Millicom International Cellular by 48.1% in the first quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock valued at $1,398,000 after buying an additional 14,990 shares during the period. AQR Capital Management LLC raised its holdings in shares of 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 worth $290,000 after acquiring an additional 453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Millicom International Cellular in the 1st quarter valued at $2,188,000. Goldman Sachs Group Inc. bought a new stake in Millicom International Cellular in the 1st quarter valued at $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Millicom International Cellular in the 1st quarter worth $8,504,000.

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.