Millicom International Cellular SA $TIGO Shares Bought by Future Fund LLC

Key Points

• Future Fund LLC increased its stake in Millicom International Cellular by 12.6% in the first quarter, making TIGO its largest holding at 2.4% of the portfolio.
• Insider selling continued, with insider Salvador Escalon selling 49,288 shares on June 1 for about $4.36 million; insiders now own just 0.52% of the company.
• The stock has been performing well, opening at $98.34 and trading near its 52-week high, while the company also beat quarterly EPS estimates with $0.97 versus $0.89 expected.

Future Fund LLC lifted its holdings in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 12.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,441 shares of the technology company's stock after buying an additional 10,201 shares during the quarter. Millicom International Cellular comprises 2.4% of Future Fund LLC's portfolio, making the stock its biggest holding. Future Fund LLC owned about 0.05% of Millicom International Cellular worth $6,853,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. bought a new stake in Millicom International Cellular during the 1st quarter worth about $50,664,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Millicom International Cellular by 46,519.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,263,376 shares of the technology company's stock worth $70,042,000 after acquiring an additional 1,260,666 shares during the last quarter. Tredje AP fonden bought a new position in shares of Millicom International Cellular in the fourth quarter worth about $60,459,000. State Street Corp lifted its position in shares of Millicom International Cellular by 129.2% during the second quarter. State Street Corp now owns 1,820,070 shares of the technology company's stock worth $68,198,000 after purchasing an additional 1,026,063 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in shares of Millicom International Cellular during the fourth quarter worth approximately $55,440,000.

Insider Buying and Selling

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of Millicom International Cellular 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 50,140 shares of company stock worth $4,425,461. 0.52% of the stock is currently owned by insiders.

Millicom International Cellular Stock Up 2.9%

Shares of NASDAQ TIGO opened at $98.34 on Friday. The firm has a market capitalization of $16.62 billion, a PE ratio of 13.36 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 1 year low of $38.96 and a 1 year high of $100.08. The firm's 50-day moving average is $88.19 and its 200-day moving average is $76.11.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings results 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 the consensus estimate of $1.99 billion. Equities analysts expect that Millicom International Cellular SA will post 1.78 EPS for the current year.

Analyst Ratings Changes

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. upped 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. Scotiabank increased their price objective on Millicom International Cellular from $51.20 to $52.40 and gave the company a "sector underperform" rating in a research report on Wednesday, May 27th. Zacks Research lowered Millicom International Cellular from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Millicom International Cellular currently has an average rating of "Hold" and an average price target of $79.28.

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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