Arrowstreet Capital Limited Partnership Sells 506,990 Shares of Millicom International Cellular SA $TIGO

Arrowstreet Capital Limited Partnership lowered its stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 53.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 433,739 shares of the technology company's stock after selling 506,990 shares during the period. Arrowstreet Capital Limited Partnership owned 0.26% of Millicom International Cellular worth $32,504,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Millicom International Cellular by 3.9% in the 4th quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company's stock worth $372,202,000 after purchasing an additional 253,891 shares during the period. State Street Corp lifted its position in shares of Millicom International Cellular by 14.9% during the 4th quarter. State Street Corp now owns 2,279,268 shares of the technology company's stock valued at $126,364,000 after buying an additional 296,319 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Millicom International Cellular in the first quarter worth approximately $50,664,000. Boston Partners increased its stake in Millicom International Cellular by 2.7% in the 4th quarter. Boston Partners now owns 1,603,730 shares of the technology company's stock worth $88,911,000 after buying an additional 41,765 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Millicom International Cellular by 128.2% during the third quarter. Northern Trust Corp now owns 1,271,086 shares of the technology company's stock worth $61,699,000 after purchasing an additional 714,158 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Zacks Research cut Millicom International Cellular from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Weiss Ratings raised Millicom International Cellular from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, May 13th. UBS Group increased their target price on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Scotiabank boosted their price objective 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, May 20th. 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 MarketBeat, Millicom International Cellular presently has a consensus rating of "Hold" and a consensus target price of $79.28.

Millicom International Cellular Stock Up 0.3%

Millicom International Cellular stock opened at $95.64 on Wednesday. Millicom International Cellular SA has a 1-year low of $39.01 and a 1-year high of $100.75. The stock has a market capitalization of $16.16 billion, a price-to-earnings ratio of 12.99 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. The business has a fifty day moving average price of $90.44 and a 200-day moving average price of $78.29.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Equities research analysts forecast that Millicom International Cellular SA will post 1.78 EPS for the current fiscal year.

Insider Transactions at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of Millicom International Cellular stock in a transaction that occurred on 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 directly owned 165,344 shares in the company, valued at approximately $14,634,597.44. The trade was a 22.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 50,140 shares of company stock worth $4,425,461.

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.

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