Sei Investments Co. Has $40.99 Million Stock Position in Millicom International Cellular SA $TIGO

Key Points

• Sei Investments increased its Millicom stake by 31.7% in the first quarter, adding 131,580 shares to own 546,999 shares valued at approximately $40.99 million, or 0.32% of the company.
• Insider Salvador Escalon sold 49,288 shares for about $4.36 million, reducing his position by 22.96%; insiders have sold roughly $4.43 million of stock over the past three months.
• Analyst sentiment remains mixed: Millicom has a consensus “Hold” rating and an average price target of $79.28, despite recent price-target increases from UBS and JPMorgan. TIGO opened at $94.54, near its 52-week high of $100.75.

Sei Investments Co. increased its stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 31.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 546,999 shares of the technology company's stock after purchasing an additional 131,580 shares during the period. Sei Investments Co. owned approximately 0.32% of Millicom International Cellular worth $40,990,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of TIGO. Allworth Financial LP lifted its position in Millicom International Cellular by 1,129.7% during the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company's stock worth $25,000 after purchasing an additional 418 shares during the period. Altshuler Shaham Ltd bought a new position in Millicom International Cellular in the 4th quarter valued at about $26,000. Blue Trust Inc. raised its position in shares of Millicom International Cellular by 736.2% in the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company's stock valued at $27,000 after buying an additional 427 shares in the last quarter. Spire Wealth Management bought a new stake in shares of Millicom International Cellular during the 4th quarter worth approximately $29,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Millicom International Cellular by 140.8% during the 4th quarter. GAMMA Investing LLC now owns 573 shares of the technology company's stock worth $32,000 after acquiring an additional 335 shares during the period.

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 transaction of $4,362,480.88. Following the sale, the insider 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 50,140 shares of company stock valued at $4,425,461. 0.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TIGO has been the topic of a number of recent analyst reports. Scotiabank lifted their price objective 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. Zacks Research downgraded Millicom International Cellular from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. UBS Group lifted their price target 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. Wall Street Zen cut Millicom International Cellular from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Finally, 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 research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Millicom International Cellular currently has a consensus rating of "Hold" and an average price target of $79.28.

Millicom International Cellular Price Performance

TIGO stock opened at $94.54 on Monday. The stock has a market cap of $15.98 billion, a price-to-earnings ratio of 12.85 and a beta of 0.92. 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 company has a 50 day simple moving average of $89.85 and a 200 day simple moving average of $77.70. Millicom International Cellular SA has a 1 year low of $39.01 and a 1 year high of $100.75.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.08. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. Research analysts anticipate that Millicom International Cellular SA will post 1.78 EPS for the current fiscal year.

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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