LB Partners LLC Decreases Stake in Millicom International Cellular SA $TIGO

Key Points

• LB Partners LLC reduced its stake in Millicom International Cellular by 38.4% in the first quarter, selling 89,000 shares and leaving it with 143,000 shares worth about $10.7 million.
• Millicom beat quarterly earnings expectations, reporting $0.97 EPS versus the $0.89 consensus estimate, while revenue came in at $1.99 billion, in line with forecasts.
• Insider and analyst activity was mixed: insider Salvador Escalon sold 49,288 shares, while Wall Street opinions ranged from Strong Buy to Sell, with a consensus rating of Moderate Buy and a target price of $77.28.

LB Partners LLC cut its holdings in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 38.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 143,000 shares of the technology company's stock after selling 89,000 shares during the quarter. Millicom International Cellular makes up 9.6% of LB Partners LLC's portfolio, making the stock its 3rd largest position. LB Partners LLC owned 0.08% of Millicom International Cellular worth $10,716,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Impact Partnership Wealth LLC bought a new stake in Millicom International Cellular during the 1st quarter worth about $220,000. Spinnaker Trust raised its stake in shares of Millicom International Cellular by 385.7% in the first quarter. Spinnaker Trust now owns 34,000 shares of the technology company's stock worth $2,548,000 after acquiring an additional 27,000 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Millicom International Cellular by 10.5% during the first quarter. Pictet Asset Management Holding SA now owns 23,216 shares of the technology company's stock worth $1,740,000 after purchasing an additional 2,202 shares in the last quarter. ABN AMRO Bank N.V. acquired a new position in shares of Millicom International Cellular during the first quarter worth approximately $1,301,000. Finally, Pinnacle Wealth Management Advisory Group LLC bought a new stake in shares of Millicom International Cellular during the first quarter valued at approximately $399,000.

Millicom International Cellular Price Performance

Shares of TIGO stock opened at $90.49 on Thursday. Millicom International Cellular SA has a 12-month low of $36.59 and a 12-month high of $94.73. The firm has a market capitalization of $15.29 billion, a price-to-earnings ratio of 12.29 and a beta of 0.91. 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 firm has a fifty day moving average of $85.25 and a 200-day moving average of $72.75.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. On average, equities research analysts forecast that Millicom International Cellular SA will post 1.78 earnings per share for the current year.

Insider Activity

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $88.51, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TIGO has been the subject of a number of 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. JPMorgan Chase & Co. increased their price objective on Millicom International Cellular from $86.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, May 20th. 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 research report on Tuesday, May 26th. Scotiabank raised their price target 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, Weiss Ratings upgraded Millicom International Cellular from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Millicom International Cellular has a consensus rating of "Moderate Buy" and a consensus target price of $77.28.

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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