Gabelli Funds LLC lessened its position in shares of Millicom International Cellular SA (NASDAQ:TIGO – Free Report) by 12.4% in the 1st quarter, HoldingsChannel reports. The fund owned 367,100 shares of the technology company’s stock after selling 52,000 shares during the period. Gabelli Funds LLC’s holdings in Millicom International Cellular were worth $27,510,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. 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 valued at $25,000 after acquiring an additional 418 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in Millicom International Cellular in the fourth quarter worth $26,000. Blue Trust Inc. grew its holdings in 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 purchasing an additional 427 shares during the last quarter. Spire Wealth Management acquired a new position in shares of Millicom International Cellular during the fourth quarter worth $29,000. Finally, GAMMA Investing LLC increased its position in shares of Millicom International Cellular by 140.8% during the fourth quarter. GAMMA Investing LLC now owns 573 shares of the technology company’s stock worth $32,000 after purchasing an additional 335 shares in the last quarter.
Millicom International Cellular Trading Down 1.8%
Shares of Millicom International Cellular stock opened at $94.54 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. Millicom International Cellular SA has a 12-month low of $39.01 and a 12-month high of $100.75. The firm has a market capitalization of $15.98 billion, a price-to-earnings ratio of 12.85 and a beta of 0.92. The firm’s 50 day simple moving average is $89.85 and its two-hundred day simple moving average is $77.56.
Analysts Set New Price Targets
Several analysts have recently commented on TIGO shares. Zacks Research lowered Millicom International Cellular from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. JPMorgan Chase & Co. boosted their target price on Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Wall Street Zen lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. Finally, Scotiabank increased their price target on 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. 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $79.28.
Get Our Latest Stock Analysis on Millicom International Cellular
Insider Transactions 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 owned 165,344 shares in the company, valued at $14,634,597.44. This trade represents a 22.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 50,140 shares of company stock valued at $4,425,461. Company insiders own 0.52% of the company’s stock.
Millicom International Cellular 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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