Millicom International Cellular Sees Unusually High Options Volume (NASDAQ:TIGO)

Millicom International Cellular SA (NASDAQ:TIGO) saw some unusual options trading on Tuesday. Stock investors acquired 31,029 call options on the company. This represents an increase of approximately 3,689% compared to the typical volume of 819 call options.

Millicom International Cellular Stock Performance

Shares of Millicom International Cellular stock traded down $1.86 on Tuesday, reaching $92.95. 1,170,133 shares of the stock were exchanged, compared to its average volume of 1,555,907. Millicom International Cellular has a 1-year low of $36.59 and a 1-year high of $95.75. 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 fifty day moving average price of $85.88 and a two-hundred day moving average price of $73.62. The firm has a market capitalization of $15.71 billion, a PE ratio of 12.63 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 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 firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. As a group, research analysts anticipate that Millicom International Cellular will post 1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TIGO. Scotiabank increased 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 research note on Wednesday, May 27th. 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. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. UBS Group cut 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. Finally, JPMorgan Chase & Co. upped their price objective on Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Millicom International Cellular currently has an average rating of “Moderate Buy” and an average target price of $77.28.

Insiders Place Their Bets

In other news, insider Salvador Escalon sold 49,288 shares of the 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 of the company’s stock, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 50,140 shares of company stock valued at $4,425,461 in the last three months.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TIGO. Goldman Sachs Group Inc. purchased a new position in shares of Millicom International Cellular during the 1st quarter worth approximately $50,664,000. Northwestern Mutual Wealth Management Co. grew its holdings in Millicom International Cellular by 46,519.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,263,376 shares of the technology company’s stock valued at $70,042,000 after buying an additional 1,260,666 shares during the last quarter. Tredje AP fonden purchased a new position in Millicom International Cellular during the fourth quarter worth $60,459,000. State Street Corp raised its holdings in shares of Millicom International Cellular by 129.2% in the second quarter. State Street Corp now owns 1,820,070 shares of the technology company’s stock worth $68,198,000 after acquiring an additional 1,026,063 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in shares of Millicom International Cellular in the fourth quarter worth $55,440,000.

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.