Stock Traders Purchase Large Volume of Millicom International Cellular Call Options (NASDAQ:TIGO)

Millicom International Cellular SA (NASDAQ:TIGO) was the target of some unusual options trading activity on Tuesday. Traders purchased 31,029 call options on the stock. This is an increase of 3,689% compared to the average volume of 819 call options.

Insider Activity

In other news, insider Salvador Escalon sold 49,288 shares of the business’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 sale, the insider owned 165,344 shares of the company’s stock, valued at $14,634,597.44. The trade was a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 50,140 shares of company stock valued at $4,425,461 in the last quarter.

Institutional Trading of Millicom International Cellular

Hedge funds and other institutional investors have recently modified their holdings of the business. Assetmark Inc. boosted its holdings in Millicom International Cellular by 31.1% in the fourth quarter. Assetmark Inc. now owns 85,059 shares of the technology company’s stock valued at $4,716,000 after purchasing an additional 20,194 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in Millicom International Cellular by 4.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 413,983 shares of the technology company’s stock valued at $22,951,000 after acquiring an additional 16,126 shares during the last quarter. Mirabella Financial Services LLP acquired a new stake in shares of Millicom International Cellular during the third quarter worth about $1,539,000. Vestcor Inc increased its position in shares of Millicom International Cellular by 31.9% during the fourth quarter. Vestcor Inc now owns 107,009 shares of the technology company’s stock worth $5,933,000 after purchasing an additional 25,880 shares in the last quarter. Finally, Causeway Capital Management LLC purchased a new stake in shares of Millicom International Cellular in the 3rd quarter valued at about $1,845,000.

Millicom International Cellular Trading Down 2.0%

NASDAQ:TIGO traded down $1.86 on Tuesday, hitting $92.95. The stock had a trading volume of 1,170,133 shares, compared to its average volume of 1,555,907. The company has a fifty day moving average price of $85.88 and a two-hundred day moving average price of $73.62. Millicom International Cellular has a 1-year low of $36.59 and a 1-year high of $95.75. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of 12.63 and a beta of 0.92.

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 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 net margin of 19.16% and a return on equity of 16.38%. Equities research analysts expect that Millicom International Cellular will post 1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TIGO shares. Scotiabank raised their target price 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. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. JPMorgan Chase & Co. lifted their target price on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Wall Street Zen lowered shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, UBS Group cut shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price for the company. in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.