Commerzbank Aktiengesellschaft FI Buys New Shares in Millicom International Cellular SA $TIGO

Key Points

• Commerzbank Aktiengesellschaft FI purchased 17,284 Millicom International Cellular shares worth approximately $1.57 million in the second quarter. Other institutional investors, including Bank of New York Mellon, also initiated or increased positions.
• Millicom shares were trading down 7.5% at $87.19, with a market capitalization of $14.74 billion and a 52-week range of $44.06 to $107.13.
• Analyst sentiment remains mixed, with the stock carrying an average “Hold” rating and an average price target of $85.68; meanwhile, insider Salvador Escalon sold 49,288 shares for about $4.36 million.

Commerzbank Aktiengesellschaft FI bought a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 17,284 shares of the technology company's stock, valued at approximately $1,569,000.

Several other large investors also recently bought and sold shares of TIGO. Bank of New York Mellon Corp acquired a new stake in Millicom International Cellular in the 2nd quarter valued at about $45,791,000. Assenagon Asset Management S.A. acquired a new position in shares of Millicom International Cellular during the second quarter worth about $632,000. GK Wealth Management LLC acquired a new position in shares of Millicom International Cellular during the second quarter worth about $316,000. GAMMA Investing LLC increased its stake in shares of Millicom International Cellular by 39.4% during the second quarter. GAMMA Investing LLC now owns 1,160 shares of the technology company's stock worth $105,000 after buying an additional 328 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Millicom International Cellular by 896.7% during the second quarter. Versant Capital Management Inc now owns 299 shares of the technology company's stock worth $27,000 after buying an additional 269 shares during the period.

Millicom International Cellular Trading Down 7.5%

TIGO opened at $87.19 on Wednesday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.51 and a current ratio of 0.53. Millicom International Cellular SA has a one year low of $44.06 and a one year high of $107.13. The company has a market cap of $14.74 billion, a P/E ratio of 22.02 and a beta of 0.91. The business's 50-day simple moving average is $93.26 and its 200-day simple moving average is $82.30.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wall Street Zen cut shares of Millicom International Cellular from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Scotiabank boosted their price target on shares of Millicom International Cellular from $52.40 to $60.10 and gave the stock a "sector underperform" rating in a report on Friday, August 7th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $105.00 price objective (up from $100.00) on shares of Millicom International Cellular in a research report on Tuesday. UBS Group raised their price objective on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Finally, Zacks Research raised shares of Millicom International Cellular from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $85.68.

Insider Activity

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $88.51, for a total value of $4,362,480.88. Following the transaction, the insider directly owned 165,344 shares of the company's stock, valued at approximately $14,634,597.44. The trade was a 22.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Millicom International Cellular Company 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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