Sei Investments Co. Has $40.99 Million Stock Holdings in Millicom International Cellular SA $TIGO

Sei Investments Co. boosted its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 31.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 546,999 shares of the technology company’s stock after acquiring an additional 131,580 shares during the quarter. Sei Investments Co.’s holdings in Millicom International Cellular were worth $40,990,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Militia Capital Management LLC acquired a new position in shares of Millicom International Cellular during the first quarter worth $4,721,000. ABN Amro Investment Solutions acquired a new stake in Millicom International Cellular in the first quarter valued at $8,924,000. PNC Financial Services Group Inc. increased its holdings in Millicom International Cellular by 19.1% in the first quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company’s stock valued at $65,000 after purchasing an additional 139 shares during the period. SEB Asset Management AB bought a new position in Millicom International Cellular during the 1st quarter worth $11,220,000. Finally, Swiss National Bank lifted its holdings in Millicom International Cellular by 1.4% during the 1st quarter. Swiss National Bank now owns 203,722 shares of the technology company’s stock worth $15,267,000 after buying an additional 2,900 shares during the period.

Analyst Ratings Changes

TIGO has been the topic of a number of analyst reports. Zacks Research lowered Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Scotiabank raised their price objective on Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a research report on Wednesday, May 27th. UBS Group lifted their price objective on Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. upped their target price on Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Finally, Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $79.28.

Millicom International Cellular Stock Performance

Shares of Millicom International Cellular stock opened at $94.54 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 business has a 50-day moving average price of $89.85 and a two-hundred day moving average price of $77.70. Millicom International Cellular SA has a 1-year low of $39.01 and a 1-year high of $100.75. The company has a market cap of $15.98 billion, a P/E ratio of 12.85 and a beta of 0.92.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data 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. The company had revenue of $1.99 billion for 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, analysts anticipate that Millicom International Cellular SA will post 1.78 EPS for the current year.

Insiders Place Their Bets

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of Millicom International Cellular stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $88.51, for a total value 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. The trade was a 22.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 50,140 shares of company stock valued at $4,425,461 in the last ninety days. Insiders own 0.52% of the company’s stock.

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.