Bank of America Corp DE Raises Stock Position in Millicom International Cellular SA $TIGO

Bank of America Corp DE grew its stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 22.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,778 shares of the technology company's stock after purchasing an additional 43,947 shares during the period. Bank of America Corp DE owned approximately 0.14% of Millicom International Cellular worth $18,269,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in Millicom International Cellular by 19.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company's stock valued at $65,000 after acquiring an additional 139 shares during the period. EWA LLC lifted its holdings in shares of Millicom International Cellular by 2.5% during the fourth quarter. EWA LLC now owns 7,025 shares of the technology company's stock valued at $389,000 after purchasing an additional 169 shares during the last quarter. Altshuler Shaham Ltd boosted its position in shares of Millicom International Cellular by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company's stock worth $47,000 after purchasing an additional 170 shares in the last quarter. Vident Advisory LLC boosted its position in shares of Millicom International Cellular by 2.3% in the 4th quarter. Vident Advisory LLC now owns 11,455 shares of the technology company's stock worth $635,000 after purchasing an additional 254 shares in the last quarter. Finally, Allworth Financial LP grew its stake 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 worth $25,000 after buying an additional 418 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TIGO. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $105.00 price target (up from $100.00) on shares of Millicom International Cellular in a research note on Tuesday. Scotiabank raised their price objective on shares of Millicom International Cellular from $52.40 to $60.10 and gave the company a "sector underperform" rating in a research note on Friday, August 7th. Wall Street Zen cut shares of Millicom International Cellular from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Zacks Research upgraded shares of Millicom International Cellular from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings reiterated a "buy (a-)" rating on shares of Millicom International Cellular in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $85.68.

Insider Transactions at Millicom International Cellular

In other Millicom International Cellular 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 transaction of $4,362,480.88. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.52% of the company's stock.

Millicom International Cellular Trading Up 1.8%

Shares of Millicom International Cellular stock opened at $88.75 on Thursday. The company's fifty day simple moving average is $93.25 and its 200-day simple moving average is $82.48. The stock has a market capitalization of $15.00 billion, a PE ratio of 22.41 and a beta of 0.91. Millicom International Cellular SA has a 1-year low of $44.38 and a 1-year high of $107.13. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.53 and a quick ratio of 0.51.

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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