Lee Danner & Bass Inc. Buys Shares of 243,000 Millicom International Cellular SA $TIGO

Lee Danner & Bass Inc. purchased a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 243,000 shares of the technology company’s stock, valued at approximately $18,210,000. Millicom International Cellular comprises approximately 1.1% of Lee Danner & Bass Inc.’s investment portfolio, making the stock its 20th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of TIGO. Allworth Financial LP raised its position in shares of Millicom International Cellular by 1,129.7% in 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 acquired a new stake in Millicom International Cellular during the fourth quarter worth approximately $26,000. Blue Trust Inc. grew its stake in Millicom International Cellular by 736.2% in the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after acquiring an additional 427 shares during the period. Spire Wealth Management purchased a new stake in Millicom International Cellular in the 4th quarter worth approximately $29,000. Finally, GAMMA Investing LLC raised its holdings in Millicom International Cellular by 140.8% in the 4th quarter. GAMMA Investing LLC now owns 573 shares of the technology company’s stock valued at $32,000 after acquiring an additional 335 shares during the last quarter.

Insider Transactions at Millicom International Cellular

In other news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction 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 completion of the sale, the insider owned 165,344 shares of the company’s stock, valued at $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on TIGO. 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 objective on Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a research report on Wednesday, May 27th. UBS Group lowered Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price for the company. in a research note on Tuesday, May 26th. Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. Finally, Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. One 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.28.

Millicom International Cellular Stock Performance

NASDAQ TIGO opened at $93.76 on Friday. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. Millicom International Cellular SA has a 1-year low of $36.59 and a 1-year high of $95.38. The firm has a market capitalization of $15.85 billion, a P/E ratio of 12.74 and a beta of 0.92. The business’s 50-day simple moving average is $85.67 and its 200-day simple moving average is $73.19.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Equities analysts predict that Millicom International Cellular SA will post 1.78 EPS 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.