Millicom International Cellular (NASDAQ:TIGO) Director Bruce Churchill Sells 284 Shares of Stock

Millicom International Cellular SA (NASDAQ:TIGO – Get Free Report) Director Bruce Churchill sold 284 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $73.92, for a total transaction of $20,993.28. Following the completion of the transaction, the director owned 26,729 shares in the company, valued at approximately $1,975,807.68. This represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Millicom International Cellular Stock Performance

Shares of NASDAQ TIGO traded down $0.30 during mid-day trading on Tuesday, reaching $94.50. 47,157 shares of the company were exchanged, compared to its average volume of 1,550,096. The company’s 50-day simple moving average is $85.88 and its 200-day simple moving average is $73.62. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. The stock has a market capitalization of $15.97 billion, a P/E ratio of 12.92 and a beta of 0.92. Millicom International Cellular SA has a twelve month low of $36.59 and a twelve month high of $95.75.

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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, topping the consensus estimate 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 firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. As a group, research analysts predict that Millicom International Cellular SA will post 1.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TIGO has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Scotiabank lifted their target price on Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a report on Wednesday, May 27th. Wall Street Zen cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. Finally, Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Millicom International Cellular has an average rating of “Moderate Buy” and a consensus price target of $77.28.

Check Out Our Latest Stock Analysis on Millicom International Cellular

Hedge Funds Weigh In On Millicom International Cellular

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its position in shares of Millicom International Cellular by 31.1% in the fourth quarter. Assetmark Inc. now owns 85,059 shares of the technology company’s stock worth $4,716,000 after purchasing an additional 20,194 shares during the period. Crossmark Global Holdings Inc. lifted its position in Millicom International Cellular by 4.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 413,983 shares of the technology company’s stock worth $22,951,000 after purchasing an additional 16,126 shares during the period. Mirabella Financial Services LLP acquired a new stake in Millicom International Cellular during the third quarter worth about $1,539,000. Causeway Capital Management LLC bought a new position in Millicom International Cellular in the 3rd quarter valued at about $1,845,000. Finally, Vestcor Inc increased its holdings in Millicom International Cellular by 31.9% in the 4th quarter. Vestcor Inc now owns 107,009 shares of the technology company’s stock valued at $5,933,000 after buying an additional 25,880 shares during the period.

About Millicom International Cellular

(Get 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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