Public Employees Retirement System of Ohio bought a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 369,134 shares of the technology company's stock, valued at approximately $33,503,000. Public Employees Retirement System of Ohio owned approximately 0.22% of Millicom International Cellular at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. purchased a new position in Millicom International Cellular during the 1st quarter valued at $50,664,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Millicom International Cellular by 46,519.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,263,376 shares of the technology company's stock valued at $70,042,000 after buying an additional 1,260,666 shares during the last quarter. Tredje AP fonden purchased a new position in Millicom International Cellular in the fourth quarter worth $60,459,000. State Street Corp increased its position in Millicom International Cellular by 129.2% during the 2nd quarter. State Street Corp now owns 1,820,070 shares of the technology company's stock valued at $68,198,000 after buying an additional 1,026,063 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in Millicom International Cellular in the 4th quarter worth approximately $55,440,000.
Insider Buying and Selling
In related news, insider Salvador Escalon sold 49,288 shares of the company's stock in a transaction that occurred 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 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 hyperlink. 0.52% of the stock is owned by company insiders.
Millicom International Cellular Stock Up 0.2%
TIGO stock opened at $93.38 on Friday. Millicom International Cellular SA has a one year low of $44.88 and a one year high of $107.13. The company has a fifty day moving average of $93.94 and a 200-day moving average of $83.83. The stock has a market capitalization of $15.78 billion, a PE ratio of 23.58 and a beta of 0.91. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.51 and a current ratio of 0.53.
Wall Street Analysts Forecast Growth
TIGO has been the topic of several analyst reports. 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. Zacks Research upgraded shares of Millicom International Cellular from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Weiss Ratings lowered shares of Millicom International Cellular from a "buy (a-)" rating to a "buy (b)" rating in a report on Friday, August 21st. Scotiabank lifted their target price on Millicom International Cellular from $52.40 to $60.10 and gave the company a "sector underperform" rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $105.00 target price (up from $100.00) on shares of Millicom International Cellular in a report on Tuesday, August 18th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Millicom International Cellular presently has an average rating of "Hold" and an average target price of $85.68.
Read Our Latest Stock Analysis on TIGO
About Millicom International Cellular
(
Free Report)
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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