Millicom International Cellular SA $TIGO Stock Position Increased by Amundi

Key Points

• Amundi more than doubled its Millicom International Cellular stake in the first quarter, increasing holdings by 120.8% to 529,936 shares valued at approximately $39.7 million. Several other institutional investors also expanded or initiated positions.
• Millicom reported quarterly EPS of $0.97, beating estimates of $0.89, while revenue of $1.99 billion matched expectations. Shares opened at $95.48, near their 52-week high of $100.75.
• Analyst sentiment remains mixed, with ratings ranging from strong buy to sell and a consensus rating of “Hold”; the average price target is $79.28. An insider also sold 49,288 shares for approximately $4.36 million.

Amundi increased its holdings in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 120.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 529,936 shares of the technology company's stock after purchasing an additional 289,913 shares during the quarter. Amundi owned 0.31% of Millicom International Cellular worth $39,713,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TIGO. Allworth Financial LP lifted its holdings in shares of Millicom International Cellular by 1,129.7% during the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company's stock valued at $25,000 after purchasing an additional 418 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Millicom International Cellular in the fourth quarter worth approximately $26,000. Blue Trust Inc. increased its position in shares of 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 acquiring an additional 427 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Millicom International Cellular during the fourth quarter valued at approximately $29,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Millicom International Cellular by 55.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company's stock valued at $53,000 after acquiring an additional 502 shares in the last quarter.

Millicom International Cellular Stock Performance

Shares of NASDAQ TIGO opened at $95.48 on Monday. The stock has a market cap of $16.14 billion, a price-to-earnings ratio of 12.97 and a beta of 0.91. The business has a 50 day simple moving average of $91.00 and a 200 day simple moving average of $79.21. Millicom International Cellular SA has a 52 week low of $39.01 and a 52 week high of $100.75. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. The company 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, research analysts predict that Millicom International Cellular SA will post 1.78 earnings per share for the current fiscal year.

Insider Activity at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of the firm's stock in a transaction on 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 directly owned 165,344 shares of the company's stock, valued at $14,634,597.44. This trade represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 50,140 shares of company stock valued at $4,425,461 in the last three months.

Analysts Set New Price Targets

A number of equities analysts recently commented on TIGO shares. Scotiabank raised their price objective 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. Weiss Ratings raised shares of Millicom International Cellular from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, May 13th. Zacks Research lowered Millicom International Cellular from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Wall Street Zen cut Millicom International Cellular from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, JPMorgan Chase & Co. lifted their price target on Millicom International Cellular from $86.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Millicom International Cellular has a consensus rating of "Hold" and an average target price of $79.28.

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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