Gamco Investors INC. ET AL Sells 179,174 Shares of Millicom International Cellular SA $TIGO

Key Points

• Gamco Investors cut its Millicom International Cellular stake by 27.5% in Q1, selling 179,174 shares and ending with 471,976 shares worth about $35.37 million.
• Insider Salvador Escalon sold 49,288 shares on June 1 for about $4.36 million, and insiders now own just 0.52% of the company.
• Millicom beat quarterly EPS estimates with $0.97 per share versus $0.89 expected, while analysts currently rate the stock a consensus Hold with an average target price of $79.28.

Gamco Investors INC. ET AL reduced its position in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 27.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 471,976 shares of the technology company's stock after selling 179,174 shares during the quarter. Gamco Investors INC. ET AL owned 0.28% of Millicom International Cellular worth $35,370,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Allworth Financial LP raised its holdings in shares of Millicom International Cellular by 1,129.7% during 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 purchased a new stake in Millicom International Cellular in the fourth quarter worth approximately $26,000. Blue Trust Inc. boosted its stake in Millicom International Cellular by 736.2% in the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company's stock worth $27,000 after buying an additional 427 shares in the last quarter. Spire Wealth Management bought a new position in Millicom International Cellular during the fourth quarter valued at approximately $29,000. Finally, GAMMA Investing LLC grew its position in Millicom International Cellular by 140.8% during 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.

Insider Activity at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of the company's stock in a transaction 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 $14,634,597.44. This represents a 22.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 50,140 shares of company stock valued at $4,425,461 over the last quarter. 0.52% of the stock is owned by insiders.

Analysts Set New Price Targets

TIGO has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Millicom International Cellular from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Zacks Research lowered shares of Millicom International Cellular from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of Millicom International Cellular from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, May 13th. Scotiabank boosted their price target on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a "sector underperform" rating in a research note on Wednesday, May 27th. Finally, UBS Group upped their price target on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $79.28.

Millicom International Cellular Price Performance

Shares of Millicom International Cellular stock opened at $94.54 on Friday. 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 business's 50 day simple moving average is $89.85 and its two-hundred day simple moving average is $77.56. The stock has a market capitalization of $15.98 billion, a P/E ratio of 12.85 and a beta of 0.92.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its quarterly earnings data 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 return on equity of 16.38% and a net margin of 19.16%.The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Analysts forecast that Millicom International Cellular SA will post 1.78 EPS for the current year.

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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