Bruce Churchill Sells 284 Shares of Millicom International Cellular (NASDAQ:TIGO) Stock

Millicom International Cellular SA (NASDAQ:TIGO) Director Bruce Churchill sold 284 shares of the stock in a transaction that occurred 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 owned 26,729 shares of the company’s stock, valued at $1,975,807.68. This represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Millicom International Cellular Stock Performance

Shares of NASDAQ TIGO opened at $93.76 on Monday. The business’s 50 day moving average is $85.67 and its two-hundred day moving average is $73.33. Millicom International Cellular SA has a 1-year low of $36.59 and a 1-year high of $95.38. The stock has a market capitalization of $15.85 billion, a P/E ratio of 12.74 and a beta of 0.92. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.99 billion. As a group, research analysts expect that Millicom International Cellular SA will post 1.78 EPS for the current year.

Wall Street Analysts Forecast Growth

TIGO has been the topic of a number of recent research reports. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. JPMorgan Chase & Co. increased 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. UBS Group cut 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 report on Tuesday, May 26th. Scotiabank lifted their price target on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.28.

Hedge Funds Weigh In On Millicom International Cellular

Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc boosted its stake in Millicom International Cellular by 896.7% in the 2nd quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock worth $27,000 after purchasing an additional 269 shares in the last quarter. Allworth Financial LP increased its stake in Millicom International Cellular by 1,129.7% during 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 in the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Millicom International Cellular in the fourth quarter worth $26,000. Blue Trust Inc. lifted its stake in shares of Millicom International Cellular by 736.2% during the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after buying an additional 427 shares during the period. Finally, Spire Wealth Management acquired a new stake in shares of Millicom International Cellular during the fourth quarter worth $29,000.

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.