Salvador Escalon Sells 49,288 Shares of Millicom International Cellular (NASDAQ:TIGO) Stock

Millicom International Cellular SA (NASDAQ:TIGO) insider Salvador Escalon sold 49,288 shares of the company’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 completion of the transaction, the insider directly owned 165,344 shares in the company, valued at $14,634,597.44. This trade represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Millicom International Cellular Trading Up 1.4%

NASDAQ TIGO opened at $87.29 on Friday. Millicom International Cellular SA has a 1-year low of $35.62 and a 1-year high of $89.49. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $14.75 billion, a PE ratio of 11.86 and a beta of 0.91. The firm’s fifty day simple moving average is $81.87 and its 200-day simple moving average is $67.98.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. As a group, sell-side analysts anticipate that Millicom International Cellular SA will post 2.34 earnings per share for the current fiscal year.

Millicom International Cellular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 8th will be issued a $0.75 dividend. The ex-dividend date is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a yield of 3.4%. Millicom International Cellular’s dividend payout ratio is currently 40.76%.

Institutional Investors Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently made changes to their positions in TIGO. Royal Bank of Canada grew its position in shares of Millicom International Cellular by 48.1% in the first quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock valued at $1,398,000 after purchasing an additional 14,990 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Millicom International Cellular by 5.0% in the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock valued at $290,000 after buying an additional 453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Millicom International Cellular during the first quarter worth about $2,188,000. Goldman Sachs Group Inc. acquired a new stake in Millicom International Cellular during the first quarter worth about $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Millicom International Cellular during the first quarter worth about $8,504,000.

Wall Street Analyst Weigh In

TIGO has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. UBS Group cut shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price objective for the company. in a report on Tuesday, May 26th. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Friday, March 6th. Scotiabank upped their price objective on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a report on Wednesday, May 27th. Finally, Morgan Stanley reiterated a “positive” rating and issued a $55.00 price objective on shares of Millicom International Cellular in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Millicom International Cellular currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.28.

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.