Independent Financial Group LLC Makes New Investment in Millicom International Cellular SA $TIGO

Independent Financial Group LLC acquired a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,635 shares of the technology company’s stock, valued at approximately $422,000.

Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in Millicom International Cellular by 3.9% in the fourth quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company’s stock valued at $372,202,000 after purchasing an additional 253,891 shares during the period. State Street Corp increased its holdings in Millicom International Cellular by 14.9% during the 4th quarter. State Street Corp now owns 2,279,268 shares of the technology company’s stock worth $126,364,000 after purchasing an additional 296,319 shares during the period. Goldman Sachs Group Inc. purchased a new stake in Millicom International Cellular during the 1st quarter worth about $50,664,000. Boston Partners increased its holdings in Millicom International Cellular by 2.7% during the 4th quarter. Boston Partners now owns 1,603,730 shares of the technology company’s stock worth $88,911,000 after purchasing an additional 41,765 shares during the period. Finally, Northern Trust Corp raised its position in Millicom International Cellular by 128.2% in the 3rd quarter. Northern Trust Corp now owns 1,271,086 shares of the technology company’s stock valued at $61,699,000 after purchasing an additional 714,158 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TIGO shares. Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. Scotiabank upped their target price 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. UBS Group raised their target price on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Zacks Research cut shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $79.28.

Millicom International Cellular Stock Down 1.8%

Shares of NASDAQ TIGO opened at $94.54 on Friday. The company has a market capitalization of $15.98 billion, a price-to-earnings ratio of 12.85 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. The business has a 50-day moving average of $89.85 and a two-hundred day moving average of $77.56. Millicom International Cellular SA has a 1 year low of $39.01 and a 1 year high of $100.75.

Millicom International Cellular (NASDAQ:TIGO) last released 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 return on equity of 16.38% and a net margin of 19.16%.The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. On average, analysts forecast that Millicom International Cellular SA will post 1.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Salvador Escalon sold 49,288 shares of the company’s 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 transaction, the insider directly owned 165,344 shares of the company’s stock, valued at $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 50,140 shares of company stock worth $4,425,461 in the last three months. 0.52% of the stock is owned by insiders.

Millicom International Cellular 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.