Commerzbank Aktiengesellschaft FI Purchases Shares of 17,284 Millicom International Cellular SA $TIGO

Commerzbank Aktiengesellschaft FI purchased a new stake in Millicom International Cellular SA (NASDAQ:TIGO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,284 shares of the technology company’s stock, valued at approximately $1,569,000.

Other hedge funds have also modified their holdings of the company. Crossmark Global Holdings Inc. raised its stake in Millicom International Cellular by 4.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 413,983 shares of the technology company’s stock valued at $22,951,000 after buying an additional 16,126 shares in the last quarter. Amundi grew its position in shares of Millicom International Cellular by 120.8% in the 1st quarter. Amundi now owns 529,936 shares of the technology company’s stock worth $39,713,000 after acquiring an additional 289,913 shares in the last quarter. Vestcor Inc grew its position in shares of Millicom International Cellular by 31.9% in the 4th quarter. Vestcor Inc now owns 107,009 shares of the technology company’s stock worth $5,933,000 after acquiring an additional 25,880 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Millicom International Cellular in the 1st quarter valued at approximately $18,210,000. Finally, Future Fund LLC increased its holdings in shares of Millicom International Cellular by 24.9% in the 4th quarter. Future Fund LLC now owns 81,240 shares of the technology company’s stock valued at $4,504,000 after acquiring an additional 16,182 shares during the last quarter.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the completion of the transaction, the insider owned 165,344 shares in the company, valued at approximately $14,634,597.44. This trade represents a 22.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Millicom International Cellular Stock Down 7.5%

Millicom International Cellular stock opened at $87.19 on Wednesday. Millicom International Cellular SA has a 52 week low of $44.06 and a 52 week high of $107.13. The stock has a market cap of $14.74 billion, a price-to-earnings ratio of 22.02 and a beta of 0.91. The company’s 50-day moving average price is $93.26 and its two-hundred day moving average price is $82.30. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 3.07.

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.