Swedbank AB Lowers Holdings in Millicom International Cellular SA $TIGO

Swedbank AB decreased its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 20.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,605,937 shares of the technology company’s stock after selling 408,096 shares during the period. Swedbank AB owned 0.95% of Millicom International Cellular worth $120,349,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TIGO. Lee Danner & Bass Inc. purchased a new stake in Millicom International Cellular during the first quarter valued at approximately $18,210,000. Revisor Wealth Management LLC purchased a new position in Millicom International Cellular in the 1st quarter worth $235,000. Moran Wealth Management LLC acquired a new stake in Millicom International Cellular during the 1st quarter worth about $262,000. Counterpoint Mutual Funds LLC purchased a new stake in Millicom International Cellular during the 1st quarter valued at about $4,198,000. Finally, Y Intercept Hong Kong Ltd grew its stake in Millicom International Cellular by 95.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 101,789 shares of the technology company’s stock valued at $7,628,000 after purchasing an additional 49,690 shares during the last quarter.

Wall Street Analysts Forecast Growth

TIGO has been the subject of a number of research reports. Zacks Research upgraded shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. boosted their price objective on Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Wall Street Zen downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, UBS Group lowered Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price on the stock. in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.28.

Millicom International Cellular Trading Down 2.0%

Shares of Millicom International Cellular stock opened at $92.95 on Wednesday. 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 SA has a twelve month low of $36.59 and a twelve month high of $95.75. The firm’s 50-day moving average price is $86.06 and its 200 day moving average price is $73.90. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33.

Millicom International Cellular (NASDAQ:TIGO) last posted 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. 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 for the quarter, compared to the consensus estimate of $1.99 billion. On average, sell-side analysts predict that Millicom International Cellular SA will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Salvador Escalon sold 49,288 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $88.51, for a total value of $4,362,480.88. Following the transaction, the insider directly owned 165,344 shares in the company, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 50,140 shares of company stock valued at $4,425,461 over the last 90 days.

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.