Public Employees Retirement System of Ohio Sells 37,279 Shares of Millicom International Cellular SA $TIGO

Public Employees Retirement System of Ohio trimmed its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 8.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,638 shares of the technology company’s stock after selling 37,279 shares during the period. Public Employees Retirement System of Ohio’s holdings in Millicom International Cellular were worth $31,298,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP boosted its stake in Millicom International Cellular by 1,129.7% in the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock worth $25,000 after purchasing an additional 418 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in shares of Millicom International Cellular during the fourth quarter worth $26,000. Blue Trust Inc. grew its holdings in shares of Millicom International Cellular by 736.2% during the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after purchasing an additional 427 shares during the last quarter. Spire Wealth Management acquired a new stake in shares of Millicom International Cellular in the fourth quarter valued at $29,000. Finally, GAMMA Investing LLC increased its stake in shares of Millicom International Cellular by 140.8% in the fourth quarter. GAMMA Investing LLC now owns 573 shares of the technology company’s stock valued at $32,000 after buying an additional 335 shares in the last quarter.

Millicom International Cellular Stock Down 1.8%

Shares of TIGO opened at $94.54 on Friday. The firm has a market capitalization of $15.98 billion, a price-to-earnings ratio of 12.85 and a beta of 0.92. 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 business’s fifty day moving average price is $89.85 and its two-hundred day moving average price is $77.56. Millicom International Cellular SA has a 52 week low of $39.01 and a 52 week high of $100.75.

Millicom International Cellular (NASDAQ:TIGO) last released its 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 company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. On average, analysts predict that Millicom International Cellular SA will post 1.78 earnings per share for the current year.

Insider Transactions at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction dated 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 50,140 shares of company stock valued at $4,425,461 in the last quarter. 0.52% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TIGO shares. Scotiabank lifted their price target on Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a report on Wednesday, May 27th. UBS Group increased their price objective on shares of Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. Zacks Research downgraded shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.28.

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.