Millicom International Cellular SA $TIGO Shares Bought by Assetmark Inc.

Key Points

• Assetmark Inc. boosted its Millicom International Cellular stake by 17.3% in the first quarter, buying 14,747 more shares and bringing its total to 99,806 shares worth about $7.48 million.
• Analyst sentiment on TIGO is mixed: UBS and JPMorgan raised price targets to $100, while other firms downgraded the stock, leaving the overall consensus at Hold with a $79.28 target price.
• Millicom reported better-than-expected quarterly earnings of $0.97 per share versus $0.89 expected, and the stock recently traded near its 52-week high after opening at $98.61.

Assetmark Inc. increased its position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,806 shares of the technology company's stock after acquiring an additional 14,747 shares during the period. Assetmark Inc. owned about 0.06% of Millicom International Cellular worth $7,479,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TIGO. EWA LLC grew its position 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 worth $389,000 after buying an additional 169 shares in the last quarter. Vident Advisory LLC raised its stake in Millicom International Cellular by 2.3% during the 4th quarter. Vident Advisory LLC now owns 11,455 shares of the technology company's stock worth $635,000 after acquiring an additional 254 shares in the last quarter. GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 335 shares in the last quarter. KBC Group NV lifted its stake in Millicom International Cellular by 0.9% in the fourth quarter. KBC Group NV now owns 44,587 shares of the technology company's stock valued at $2,472,000 after buying an additional 378 shares during the last quarter. Finally, Archford Capital Strategies LLC raised its position in Millicom International Cellular by 8.5% in the 4th quarter. Archford Capital Strategies LLC now owns 5,076 shares of the technology company's stock valued at $281,000 after purchasing an additional 398 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TIGO. UBS Group lifted their target price on Millicom International Cellular from $90.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Zacks Research lowered Millicom International Cellular from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Wall Street Zen downgraded shares of Millicom International Cellular from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings raised Millicom International Cellular from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, May 20th. 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. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $79.28.

Insider Activity at Millicom International Cellular

In related 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 transaction, the insider owned 165,344 shares of the company's stock, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 50,140 shares of company stock valued at $4,425,461 in the last 90 days.

Millicom International Cellular Stock Up 1.3%

Shares of NASDAQ TIGO opened at $98.61 on Wednesday. The company has a market cap of $16.67 billion, a P/E ratio of 13.40 and a beta of 0.92. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. Millicom International Cellular SA has a 12-month low of $39.01 and a 12-month high of $100.08. The stock has a fifty day moving average price of $88.93 and a 200 day moving average price of $76.86.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.99 billion. Research analysts anticipate that Millicom International Cellular SA will post 1.78 EPS for the current fiscal year.

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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