LGT Fund Management Co Ltd. Acquires New Position in Millicom International Cellular SA $TIGO

LGT Fund Management Co Ltd. bought a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO) during the 1st quarter, Holdings Channel.com reports. The fund bought 31,659 shares of the technology company’s stock, valued at approximately $2,373,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of Millicom International Cellular by 48.1% in the 1st 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 position 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 worth $290,000 after acquiring an additional 453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Millicom International Cellular in the first quarter worth $2,188,000. Goldman Sachs Group Inc. acquired a new stake in Millicom International Cellular in the first quarter valued at $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Millicom International Cellular in the first quarter valued at $8,504,000.

Wall Street Analyst Weigh In

TIGO has been the topic of a number of recent analyst reports. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Scotiabank raised their price objective 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 downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. UBS Group lowered shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price on the stock. in a research report on Tuesday, May 26th. Finally, Weiss Ratings raised shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.28.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO opened at $96.96 on Monday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The company’s 50-day moving average price is $86.82 and its 200 day moving average price is $74.78. Millicom International Cellular SA has a 52 week low of $37.31 and a 52 week high of $96.99. The stock has a market cap of $16.39 billion, a price-to-earnings ratio of 13.17 and a beta of 0.92.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.99 billion. As a group, research analysts forecast that Millicom International Cellular SA will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Millicom International Cellular

In other news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider directly owned 165,344 shares of the company’s stock, valued at $14,634,597.44. This trade represents a 22.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 50,140 shares of company stock worth $4,425,461.

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.