Hsbc Holdings PLC Has $3.04 Million Holdings in Millicom International Cellular SA $TIGO

Hsbc Holdings PLC grew its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 455.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,576 shares of the technology company’s stock after buying an additional 44,758 shares during the period. Hsbc Holdings PLC’s holdings in Millicom International Cellular were worth $3,038,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Invesco Ltd. lifted its position in shares of Millicom International Cellular by 14.8% during the 4th quarter. Invesco Ltd. now owns 181,118 shares of the technology company’s stock valued at $10,041,000 after acquiring an additional 23,336 shares during the period. Corient Private Wealth LLC acquired a new stake in Millicom International Cellular in the fourth quarter worth $225,000. Mercer Global Advisors Inc. ADV bought a new stake in Millicom International Cellular in the fourth quarter valued at $265,000. Vident Advisory LLC increased its stake in Millicom International Cellular by 2.3% in the fourth quarter. Vident Advisory LLC now owns 11,455 shares of the technology company’s stock valued at $635,000 after purchasing an additional 254 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Millicom International Cellular during the fourth quarter valued at about $4,510,000.

Insider Activity at Millicom International Cellular

In other news, insider Salvador Escalon sold 49,288 shares of the firm’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 value of $4,362,480.88. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TIGO shares. JPMorgan Chase & Co. increased their price objective on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Wall Street Zen downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. HSBC upgraded 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. Finally, Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $77.28.

Millicom International Cellular Stock Performance

NASDAQ:TIGO opened at $89.26 on Monday. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. Millicom International Cellular SA has a one year low of $36.00 and a one year high of $94.73. The company has a market cap of $15.08 billion, a PE ratio of 12.13 and a beta of 0.91. The firm has a 50-day moving average of $84.71 and a 200-day moving average of $71.90.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. The business 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%. As a group, equities research analysts expect that Millicom International Cellular SA will post 1.78 EPS 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.