Sterling Capital Management LLC Sells 6,758 Shares of Millicom International Cellular SA $TIGO

Sterling Capital Management LLC decreased its stake in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 53.9% during the 1st quarter, Holdings Channel reports. The firm owned 5,772 shares of the technology company’s stock after selling 6,758 shares during the period. Sterling Capital Management LLC’s holdings in Millicom International Cellular were worth $433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in 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 buying an additional 418 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in Millicom International Cellular during the fourth quarter worth $26,000. Blue Trust Inc. increased its holdings in 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 buying an additional 427 shares during the last quarter. Spire Wealth Management bought a new stake in Millicom International Cellular during the fourth quarter worth $29,000. Finally, GAMMA Investing LLC raised 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 worth $32,000 after acquiring an additional 335 shares in the last quarter.

Insider Buying and Selling at Millicom International Cellular

In other news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on TIGO shares. UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price objective for the company. in a research report on Tuesday, May 26th. Scotiabank upped their target price on shares of Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a report on Wednesday, May 27th. Zacks Research upgraded shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. JPMorgan Chase & Co. lifted their price target on Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Finally, Wall Street Zen downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.28.

Millicom International Cellular Stock Performance

Shares of NASDAQ:TIGO opened at $93.76 on Friday. Millicom International Cellular SA has a 12-month low of $36.59 and a 12-month high of $95.38. The business has a 50 day moving average of $85.67 and a 200-day moving average of $73.19. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. The stock has a market cap of $15.85 billion, a PE ratio of 12.74 and a beta of 0.92.

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

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.