JPMorgan Chase & Co. Reaffirms Neutral Rating for Millicom International Cellular (NASDAQ:TIGO)

Millicom International Cellular (NASDAQ:TIGO)‘s stock had its “neutral” rating reiterated by stock analysts at JPMorgan Chase & Co. in a research note issued on Tuesday,Benzinga reports. They presently have a $105.00 price objective on the technology company’s stock, up from their previous price objective of $100.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 11.39% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. UBS Group increased their price objective on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Wall Street Zen cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Royal Bank Of Canada set a $105.00 target price on shares of Millicom International Cellular in a report on Tuesday. Finally, Scotiabank upped their target price on shares of Millicom International Cellular from $52.40 to $60.10 and gave the company a “sector underperform” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $85.68.

Millicom International Cellular Price Performance

TIGO stock opened at $94.26 on Tuesday. Millicom International Cellular has a one year low of $44.06 and a one year high of $107.13. The company’s fifty day moving average price is $93.26 and its 200-day moving average price is $82.11. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.51 and a current ratio of 0.53. The company has a market capitalization of $15.93 billion, a PE ratio of 23.80 and a beta of 0.91.

Insider Buying and Selling

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $88.51, for a total value of $4,362,480.88. Following the sale, the insider owned 165,344 shares in the company, valued at $14,634,597.44. This trade represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 50,140 shares of company stock valued at $4,425,461.

Hedge Funds Weigh In On Millicom International Cellular

Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its holdings in Millicom International Cellular by 1,129.7% during the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock worth $25,000 after purchasing an additional 418 shares during the period. Altshuler Shaham Ltd purchased a new position in Millicom International Cellular during the 4th quarter valued at about $26,000. Versant Capital Management Inc raised its holdings in shares of Millicom International Cellular by 896.7% in the 2nd quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock valued at $27,000 after purchasing an additional 269 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Millicom International Cellular by 55.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock valued at $53,000 after purchasing an additional 502 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in Millicom International Cellular in the fourth quarter worth approximately $61,000.

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.