Public Employees Retirement System of Ohio Has $31.30 Million Holdings in Millicom International Cellular SA $TIGO

Key Points

• Public Employees Retirement System of Ohio reduced its Millicom International Cellular stake by 8.2% in the first quarter, but still held 417,638 shares valued at about $31.3 million.
• Analyst sentiment is mixed: recent actions included higher price targets from UBS and JPMorgan, while Scotiabank and Wall Street Zen were more cautious. Overall, MarketBeat shows a Hold consensus with a price target of $79.28.
• Millicom reported better-than-expected quarterly EPS of $0.97 versus estimates of $0.89, while insider Salvador Escalon sold 49,288 shares in June, trimming his position by about 23%.

Public Employees Retirement System of Ohio cut its position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 8.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 417,638 shares of the technology company's stock after selling 37,279 shares during the period. Public Employees Retirement System of Ohio owned about 0.25% of Millicom International Cellular worth $31,298,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TIGO. JPMorgan Chase & Co. lifted its position in Millicom International Cellular by 3.9% in the fourth quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company's stock worth $372,202,000 after purchasing an additional 253,891 shares during the period. State Street Corp increased its holdings in Millicom International Cellular by 14.9% in the 4th quarter. State Street Corp now owns 2,279,268 shares of the technology company's stock valued at $126,364,000 after buying an additional 296,319 shares during the period. Goldman Sachs Group Inc. bought a new stake in Millicom International Cellular in the 1st quarter valued at $50,664,000. Boston Partners increased its holdings in Millicom International Cellular by 2.7% in the 4th quarter. Boston Partners now owns 1,603,730 shares of the technology company's stock valued at $88,911,000 after buying an additional 41,765 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Millicom International Cellular by 128.2% in the 3rd quarter. Northern Trust Corp now owns 1,271,086 shares of the technology company's stock valued at $61,699,000 after buying an additional 714,158 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of Millicom International Cellular from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, May 13th. Scotiabank upped their target price on shares of Millicom International Cellular from $51.20 to $52.40 and gave the company a "sector underperform" rating in a research note on Wednesday, May 27th. UBS Group increased their price target on shares of Millicom International Cellular from $90.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of Millicom International Cellular from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 20th. One investment 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $79.28.

Millicom International Cellular Stock Performance

Shares of NASDAQ:TIGO opened at $94.54 on Friday. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. The business's fifty day moving average price is $89.85 and its two-hundred day moving average price is $77.56. Millicom International Cellular SA has a fifty-two week low of $39.01 and a fifty-two week high of $100.75. The stock has a market capitalization of $15.98 billion, a price-to-earnings ratio of 12.85 and a beta of 0.92.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. As a group, analysts predict that Millicom International Cellular SA will post 1.78 EPS for the current fiscal year.

Insider Activity

In related news, insider Salvador Escalon sold 49,288 shares of Millicom International Cellular stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 50,140 shares of company stock worth $4,425,461. 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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