LGT Fund Management Co Ltd. Invests $2.37 Million in Millicom International Cellular SA $TIGO

LGT Fund Management Co Ltd. bought a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,659 shares of the technology company’s stock, valued at approximately $2,373,000.

Several other institutional investors have also recently added to or reduced their stakes in TIGO. Allworth Financial LP boosted its holdings in shares of Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after buying an additional 418 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in Millicom International Cellular during the 4th quarter worth $26,000. Blue Trust Inc. raised its stake in Millicom International Cellular by 736.2% during the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after acquiring an additional 427 shares in the last quarter. Spire Wealth Management purchased a new stake in Millicom International Cellular in the fourth quarter valued at $29,000. Finally, GAMMA Investing LLC lifted its position in 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 acquiring an additional 335 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Scotiabank raised their price objective on Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a report on Wednesday, May 27th. UBS Group downgraded Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price for the company. in a report on Tuesday, May 26th. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Wall Street Zen downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.28.

Millicom International Cellular Stock Performance

Shares of TIGO stock opened at $96.96 on Monday. The stock’s 50-day moving average price is $86.82 and its 200 day moving average price is $74.78. 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 capitalization of $16.39 billion, a PE ratio of 13.17 and a beta of 0.92. Millicom International Cellular SA has a 52-week low of $37.31 and a 52-week high of $96.99.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.99 billion. As a group, equities research analysts forecast that Millicom International Cellular SA will post 1.78 EPS for the current year.

Insider Activity at Millicom International Cellular

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

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.