ABN AMRO Bank N.V. Invests $1.30 Million in Millicom International Cellular SA $TIGO

ABN AMRO Bank N.V. acquired a new stake in shares of Millicom International Cellular SA (NASDAQ:TIGO) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 17,260 shares of the technology company’s stock, valued at approximately $1,301,000.

A number of other large investors also recently modified their holdings of the company. EWA LLC boosted its stake in shares of Millicom International Cellular by 2.5% in the fourth quarter. EWA LLC now owns 7,025 shares of the technology company’s stock worth $389,000 after acquiring an additional 169 shares during the period. Vident Advisory LLC raised its position in shares of Millicom International Cellular by 2.3% during the fourth quarter. Vident Advisory LLC now owns 11,455 shares of the technology company’s stock valued at $635,000 after buying an additional 254 shares during the last quarter. GAMMA Investing LLC raised 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 valued at $32,000 after buying an additional 335 shares during the last quarter. KBC Group NV lifted its holdings in shares of Millicom International Cellular by 0.9% in the fourth quarter. KBC Group NV now owns 44,587 shares of the technology company’s stock worth $2,472,000 after buying an additional 378 shares in the last quarter. Finally, Archford Capital Strategies LLC lifted its holdings in shares of Millicom International Cellular by 8.5% in the fourth quarter. Archford Capital Strategies LLC now owns 5,076 shares of the technology company’s stock worth $281,000 after buying an additional 398 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Scotiabank raised their target price 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. 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. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. JPMorgan Chase & Co. raised their price objective on Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Finally, UBS Group cut Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price on the stock. in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.28.

Insider Buying and Selling

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction that occurred 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 directly owned 165,344 shares of the company’s stock, valued at $14,634,597.44. The trade was a 22.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.52% of the company’s stock.

Millicom International Cellular Stock Performance

Shares of NASDAQ:TIGO opened at $89.26 on Monday. Millicom International Cellular SA has a 52 week low of $36.00 and a 52 week high of $94.73. The stock has a market capitalization of $15.08 billion, a P/E ratio of 12.13 and a beta of 0.91. The firm has a fifty day simple moving average of $84.71 and a two-hundred day simple moving average of $71.90. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. The firm had revenue of $1.99 billion for 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%. On average, analysts expect that Millicom International Cellular SA will post 1.78 earnings per share for the current fiscal year.

About Millicom International Cellular

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.