Insider Selling: Millicom International Cellular (NASDAQ:TIGO) Insider Sells $4,362,480.88 in Stock

Millicom International Cellular SA (NASDAQ:TIGO) insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction 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 sale, the insider directly owned 165,344 shares of the company’s stock, valued at approximately $14,634,597.44. The trade was a 22.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Millicom International Cellular Trading Down 5.3%

Shares of TIGO stock opened at $82.66 on Friday. Millicom International Cellular SA has a 1 year low of $35.62 and a 1 year high of $89.49. The firm has a fifty day moving average price of $81.98 and a 200-day moving average price of $68.08. 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 company has a market cap of $13.97 billion, a price-to-earnings ratio of 11.23 and a beta of 0.91.

Millicom International Cellular (NASDAQ:TIGO) last issued 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. 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, equities analysts predict that Millicom International Cellular SA will post 2.34 earnings per share for the current year.

Millicom International Cellular Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.6%. Millicom International Cellular’s payout ratio is presently 40.76%.

Analyst Ratings Changes

Several brokerages recently weighed in on TIGO. Morgan Stanley reaffirmed a “positive” rating and issued a $55.00 target price on shares of Millicom International Cellular in a report on Thursday, February 26th. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. 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 downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price for the company. in a report on Tuesday, May 26th. Finally, HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.28.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in Millicom International Cellular by 19.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company’s stock worth $65,000 after buying an additional 139 shares during the period. EWA LLC lifted its stake in Millicom International Cellular by 2.5% in the 4th quarter. EWA LLC now owns 7,025 shares of the technology company’s stock worth $389,000 after purchasing an additional 169 shares in the last quarter. Altshuler Shaham Ltd lifted its stake in Millicom International Cellular by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock worth $47,000 after purchasing an additional 170 shares in the last quarter. Vident Advisory LLC lifted its stake in Millicom International Cellular by 2.3% in the 4th quarter. Vident Advisory LLC now owns 11,455 shares of the technology company’s stock worth $635,000 after purchasing an additional 254 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Millicom International Cellular by 155.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock worth $25,000 after purchasing an additional 314 shares in the last quarter.

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.