Independent Financial Group LLC Invests $422,000 in Millicom International Cellular SA $TIGO

Independent Financial Group LLC purchased a new stake in shares of Millicom International Cellular SA (NASDAQ:TIGO) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,635 shares of the technology company’s stock, valued at approximately $422,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada raised its stake in Millicom International Cellular by 48.1% during the first quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock worth $1,398,000 after purchasing an additional 14,990 shares during the period. AQR Capital Management LLC boosted its holdings in Millicom International Cellular by 5.0% in the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock valued at $290,000 after purchasing an additional 453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Millicom International Cellular in the 1st quarter valued at approximately $2,188,000. Goldman Sachs Group Inc. purchased a new stake in shares of Millicom International Cellular in the 1st quarter valued at approximately $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Millicom International Cellular during the 1st quarter worth approximately $8,504,000.

Millicom International Cellular Stock Performance

NASDAQ:TIGO opened at $94.54 on Friday. Millicom International Cellular SA has a fifty-two week low of $39.01 and a fifty-two week high of $100.75. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62. The company has a 50 day moving average price of $89.85 and a 200 day moving average price of $77.56. The stock has a market capitalization of $15.98 billion, a P/E ratio of 12.85 and a beta of 0.92.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (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 company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Equities research analysts forecast that Millicom International Cellular SA will post 1.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. Zacks Research cut Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Scotiabank lifted 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. JPMorgan Chase & Co. upped their price target on Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Finally, Wall Street Zen cut Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Millicom International Cellular has a consensus rating of “Hold” and a consensus target price of $79.28.

Insider Transactions at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction dated 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 owned 165,344 shares of the company’s stock, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 50,140 shares of company stock worth $4,425,461. 0.52% of the stock is currently owned by corporate insiders.

Millicom International Cellular 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.