8,000 Shares in Millicom International Cellular SA $TIGO Bought by CTC Alternative Strategies Ltd.

CTC Alternative Strategies Ltd. purchased a new position in Millicom International Cellular SA (NASDAQ:TIGO) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,000 shares of the technology company’s stock, valued at approximately $600,000. Millicom International Cellular comprises about 1.4% of CTC Alternative Strategies Ltd.’s investment portfolio, making the stock its 24th largest position.

Several other institutional investors have also added to or reduced their stakes in the business. Allworth Financial LP grew its stake in shares of Millicom International Cellular by 1,129.7% during the fourth 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 bought a new stake in shares of Millicom International Cellular in the 4th quarter valued at about $26,000. Blue Trust Inc. lifted its stake in shares of Millicom International Cellular by 736.2% in the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock valued at $27,000 after acquiring an additional 427 shares during the last quarter. Spire Wealth Management purchased a new stake in Millicom International Cellular during the 4th quarter valued at about $29,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Millicom International Cellular by 19.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company’s stock valued at $65,000 after acquiring an additional 139 shares during the period.

Insider Activity

In other news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the transaction, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 50,140 shares of company stock worth $4,425,461 over the last 90 days. 0.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. Zacks Research lowered Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Scotiabank raised their target price on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a report on Wednesday, May 27th. Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, UBS Group upped their price target on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a report 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Millicom International Cellular currently has an average rating of “Hold” and an average target price of $79.28.

Millicom International Cellular Stock Up 0.3%

NASDAQ TIGO opened at $95.48 on Friday. Millicom International Cellular SA has a 1 year low of $39.01 and a 1 year high of $100.75. The stock has a market capitalization of $16.14 billion, a PE ratio of 12.97 and a beta of 0.92. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. The business’s 50-day moving average is $91.00 and its 200 day moving average is $79.02.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%.The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Sell-side analysts forecast 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.