Millicom International Cellular (NASDAQ:TIGO) Director De Vega Blanca Trevino Sells 284 Shares

Millicom International Cellular SA (NASDAQ:TIGO) Director De Vega Blanca Trevino 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 completion of the sale, the director directly owned 14,163 shares of the company’s stock, valued at approximately $1,046,928.96. The trade was a 1.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Millicom International Cellular Stock Down 0.3%

Shares of NASDAQ:TIGO traded down $0.30 during midday trading on Tuesday, hitting $94.50. The stock had a trading volume of 47,157 shares, compared to its average volume of 1,550,096. The company has a market cap of $15.97 billion, a P/E ratio of 12.92 and a beta of 0.92. Millicom International Cellular SA has a 12 month low of $36.59 and a 12 month high of $95.75. The business’s 50-day simple moving average is $85.88 and its 200-day simple moving average is $73.62. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. On average, sell-side analysts forecast that Millicom International Cellular SA will post 1.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on TIGO. Scotiabank raised their target price on shares of Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a research note on Wednesday, May 27th. Wall Street Zen lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. lifted their target price on Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Zacks Research upgraded shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Finally, UBS Group lowered shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Millicom International Cellular currently has a consensus rating of “Moderate Buy” and an average price target of $77.28.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TIGO. Versant Capital Management Inc increased its holdings in shares of Millicom International Cellular by 896.7% during the second quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock worth $27,000 after purchasing an additional 269 shares during the period. CTC Alternative Strategies Ltd. acquired a new stake in Millicom International Cellular during the first quarter worth approximately $600,000. Bank of America Corp DE grew its position in Millicom International Cellular by 22.0% during the first quarter. Bank of America Corp DE now owns 243,778 shares of the technology company’s stock worth $18,269,000 after buying an additional 43,947 shares in the last quarter. Altshuler Shaham Ltd increased its stake in Millicom International Cellular by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock worth $47,000 after acquiring an additional 170 shares during the period. Finally, Amundi increased its stake in Millicom International Cellular by 120.8% during the 1st quarter. Amundi now owns 529,936 shares of the technology company’s stock worth $39,713,000 after acquiring an additional 289,913 shares during the period.

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.