Millicom International Cellular SA $TIGO Shares Sold by KBC Group NV

KBC Group NV cut its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 18.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,199 shares of the technology company’s stock after selling 8,388 shares during the quarter. KBC Group NV’s holdings in Millicom International Cellular were worth $2,713,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TIGO. Allworth Financial LP boosted its holdings in shares of Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after acquiring an additional 418 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Millicom International Cellular during the fourth quarter worth $26,000. Blue Trust Inc. raised its holdings in shares of Millicom International Cellular by 736.2% during the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after purchasing an additional 427 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Millicom International Cellular during the fourth quarter worth $29,000. Finally, GAMMA Investing LLC lifted its position in Millicom International Cellular by 140.8% during the fourth quarter. GAMMA Investing LLC now owns 573 shares of the technology company’s stock valued at $32,000 after purchasing an additional 335 shares during the period.

Analyst Upgrades and Downgrades

TIGO has been the topic of several recent research reports. 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. Scotiabank lifted their price objective on Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a research note on Wednesday, May 27th. Wall Street Zen cut Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research downgraded Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, UBS Group upped their target price 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. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Millicom International Cellular currently has an average rating of “Hold” and a consensus target price of $79.28.

Insider Activity

In other news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction dated 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 $14,634,597.44. This represents a 22.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 50,140 shares of company stock worth $4,425,461. Corporate insiders own 0.52% of the company’s stock.

Millicom International Cellular Stock Performance

Shares of NASDAQ TIGO opened at $94.54 on Friday. The company has a market capitalization of $15.98 billion, a PE ratio of 12.85 and a beta of 0.92. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62. The company’s fifty day moving average price is $89.85 and its 200 day moving average price is $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 earnings per share 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 company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. On average, research analysts predict that Millicom International Cellular SA will post 1.78 earnings per share for the current year.

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.