Bruce Churchill Sells 284 Shares of Millicom International Cellular (NASDAQ:TIGO) Stock

Millicom International Cellular SA (NASDAQ:TIGO) Director Bruce Churchill sold 284 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $73.92, for a total value of $20,993.28. Following the transaction, the director directly owned 26,729 shares of the company’s stock, valued at $1,975,807.68. This represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Millicom International Cellular Stock Down 2.0%

Millicom International Cellular stock opened at $92.95 on Wednesday. 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 SA has a 1-year low of $36.59 and a 1-year high of $95.75. The company has a fifty day simple moving average of $86.06 and a 200 day simple moving average of $73.90. The company has a market cap of $15.71 billion, a P/E ratio of 12.63 and a beta of 0.92.

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. The firm 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%. Research analysts anticipate that Millicom International Cellular SA will post 1.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in shares of Millicom International Cellular by 48.1% during the first quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock valued at $1,398,000 after purchasing an additional 14,990 shares in the last quarter. AQR Capital Management LLC raised its holdings in Millicom International Cellular by 5.0% in the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock valued at $290,000 after buying an additional 453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Millicom International Cellular in the 1st quarter valued at approximately $2,188,000. Goldman Sachs Group Inc. acquired a new stake in Millicom International Cellular during the 1st quarter worth approximately $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Millicom International Cellular during the 1st quarter worth approximately $8,504,000.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TIGO shares. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. Wall Street Zen lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Scotiabank lifted their price target on Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a report on Wednesday, May 27th. UBS Group lowered Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. increased their price objective on Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.28.

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.