CTC Alternative Strategies Ltd. Makes New $600,000 Investment in Millicom International Cellular SA $TIGO

CTC Alternative Strategies Ltd. bought a new position in Millicom International Cellular SA (NASDAQ:TIGO) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 8,000 shares of the technology company’s stock, valued at approximately $600,000. Millicom International Cellular accounts for 1.4% of CTC Alternative Strategies Ltd.’s holdings, making the stock its 24th biggest holding.

A number of other large investors have also recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new position in shares of Millicom International Cellular during the first quarter valued at about $50,664,000. Northwestern Mutual Wealth Management Co. raised its stake in Millicom International Cellular by 46,519.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,263,376 shares of the technology company’s stock worth $70,042,000 after buying an additional 1,260,666 shares in the last quarter. Tredje AP fonden purchased a new stake in Millicom International Cellular in the fourth quarter worth about $60,459,000. State Street Corp lifted its holdings in Millicom International Cellular by 129.2% in the second quarter. State Street Corp now owns 1,820,070 shares of the technology company’s stock worth $68,198,000 after buying an additional 1,026,063 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new stake in Millicom International Cellular during the 4th quarter valued at approximately $55,440,000.

Insider Buying and Selling at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider owned 165,344 shares of the company’s stock, valued at $14,634,597.44. This trade represents a 22.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 50,140 shares of company stock valued at $4,425,461. Corporate insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

TIGO has been the topic of a number of research analyst reports. Zacks Research downgraded Millicom International Cellular from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. JPMorgan Chase & Co. raised their target price 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. Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. UBS Group upped their price target on Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Finally, Scotiabank raised their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, three have given 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.

Millicom International Cellular Trading Up 0.3%

NASDAQ:TIGO opened at $95.48 on Friday. The firm has a market capitalization of $16.14 billion, a P/E ratio of 12.97 and a beta of 0.92. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. Millicom International Cellular SA has a one year low of $39.01 and a one year high of $100.75. The company’s 50-day simple moving average is $91.00 and its 200 day simple moving average is $79.02.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. As a group, analysts forecast that Millicom International Cellular SA will post 1.78 EPS for the current fiscal year.

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.