Gamco Investors INC. ET AL Sells 179,174 Shares of Millicom International Cellular SA $TIGO

Gamco Investors INC. ET AL lessened its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 27.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 471,976 shares of the technology company’s stock after selling 179,174 shares during the period. Gamco Investors INC. ET AL’s holdings in Millicom International Cellular were worth $35,370,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assetmark Inc. grew its position in shares of Millicom International Cellular by 31.1% in the 4th quarter. Assetmark Inc. now owns 85,059 shares of the technology company’s stock worth $4,716,000 after buying an additional 20,194 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Millicom International Cellular by 4.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 413,983 shares of the technology company’s stock valued at $22,951,000 after acquiring an additional 16,126 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in shares of Millicom International Cellular during the first quarter valued at approximately $18,210,000. Vestcor Inc raised its holdings in shares of Millicom International Cellular by 31.9% during the fourth quarter. Vestcor Inc now owns 107,009 shares of the technology company’s stock valued at $5,933,000 after acquiring an additional 25,880 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Millicom International Cellular in the fourth quarter worth $871,000.

Millicom International Cellular Trading Down 1.8%

TIGO opened at $94.54 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. Millicom International Cellular SA has a 52 week low of $39.01 and a 52 week high of $100.75. The stock has a market cap of $15.98 billion, a PE ratio of 12.85 and a beta of 0.92. The business has a 50 day moving average of $89.85 and a 200-day moving average of $77.56.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. Equities research analysts predict that Millicom International Cellular SA will post 1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. Zacks Research lowered shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Scotiabank boosted their price target on shares of Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a research report on Wednesday, May 27th. Finally, UBS Group boosted their price target on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.28.

Insider Buying and Selling

In other news, 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 owned 165,344 shares in the company, valued at approximately $14,634,597.44. The trade was a 22.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 50,140 shares of company stock worth $4,425,461 over the last ninety days. Company insiders own 0.52% of the company’s stock.

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.