Lee Danner & Bass Inc. Makes New Investment in Millicom International Cellular SA $TIGO

Key Points

• Lee Danner & Bass Inc. initiated a new position in Millicom International Cellular in Q1, buying 243,000 shares valued at about $18.2 million. The stake represents roughly 1.1% of its portfolio and makes TIGO its 20th-largest holding.
• Millicom reported better-than-expected quarterly earnings, posting EPS of $0.97 versus estimates of $0.89 while revenue came in at $1.99 billion, in line with expectations. Analysts now expect the company to earn 1.78 EPS for the full year.
• Sentiment on the stock is mixed: several firms have raised or lowered ratings and targets, with JPMorgan lifting its price objective to $100 and UBS setting $90. Separately, insider Salvador Escalon sold 49,288 shares for about $4.36 million.

Lee Danner & Bass Inc. bought a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 243,000 shares of the technology company's stock, valued at approximately $18,210,000. Millicom International Cellular accounts for approximately 1.1% of Lee Danner & Bass Inc.'s portfolio, making the stock its 20th biggest holding. Lee Danner & Bass Inc. owned 0.14% of Millicom International Cellular as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in TIGO. EWA LLC increased its holdings in shares of Millicom International Cellular by 2.5% in the 4th quarter. EWA LLC now owns 7,025 shares of the technology company's stock valued at $389,000 after purchasing an additional 169 shares in the last quarter. Vident Advisory LLC lifted its stake in shares of Millicom International Cellular by 2.3% in the fourth quarter. Vident Advisory LLC now owns 11,455 shares of the technology company's stock valued at $635,000 after purchasing an additional 254 shares during the period. GAMMA Investing LLC boosted its holdings in Millicom International Cellular by 140.8% during the fourth quarter. GAMMA Investing LLC now owns 573 shares of the technology company's stock worth $32,000 after buying an additional 335 shares in the last quarter. KBC Group NV boosted its holdings in Millicom International Cellular by 0.9% during the fourth quarter. KBC Group NV now owns 44,587 shares of the technology company's stock worth $2,472,000 after buying an additional 378 shares in the last quarter. Finally, Archford Capital Strategies LLC grew its position in Millicom International Cellular by 8.5% during the fourth quarter. Archford Capital Strategies LLC now owns 5,076 shares of the technology company's stock worth $281,000 after buying an additional 398 shares during the period.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO opened at $93.76 on Friday. The firm's 50-day moving average is $85.67 and its two-hundred day moving average is $73.19. The company has a market capitalization of $15.85 billion, a PE ratio of 12.74 and a beta of 0.92. Millicom International Cellular SA has a 12-month low of $36.59 and a 12-month high of $95.38. 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 (NASDAQ:TIGO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Equities analysts anticipate that Millicom International Cellular SA will post 1.78 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. 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. Wall Street Zen cut Millicom International Cellular from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. UBS Group downgraded Millicom International Cellular from a "buy" rating to a "neutral" rating and set a $90.00 price objective for the company. in a research note on Tuesday, May 26th. JPMorgan Chase & Co. lifted their price objective on Millicom International Cellular from $86.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, May 20th. Finally, Zacks Research upgraded Millicom International Cellular from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $77.28.

Insider Buying and Selling

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction on 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 owned 165,344 shares in the company, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.52% of the company's stock.

About Millicom International Cellular

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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