Millicom International Cellular SA $TIGO Shares Purchased by Assetmark Inc.

Assetmark Inc. lifted its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 17.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 99,806 shares of the technology company’s stock after purchasing an additional 14,747 shares during the quarter. Assetmark Inc.’s holdings in Millicom International Cellular were worth $7,479,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of TIGO. Royal Bank of Canada increased its stake 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 period. AQR Capital Management LLC boosted its stake in Millicom International Cellular by 5.0% during 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Millicom International Cellular in the 1st quarter worth approximately $2,188,000. Goldman Sachs Group Inc. acquired a new position in Millicom International Cellular in the first quarter worth approximately $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Millicom International Cellular in the 1st quarter worth $8,504,000.

Insider Buying and Selling at Millicom International Cellular

In other news, insider Salvador Escalon sold 49,288 shares of Millicom International Cellular stock in a transaction that occurred on Monday, June 1st. The shares were 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 approximately $14,634,597.44. The trade was a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 50,140 shares of company stock worth $4,425,461 over the last three months.

Wall Street Analyst Weigh In

TIGO has been the topic of several analyst reports. Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Scotiabank lifted their price target on Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a report on Wednesday, May 27th. UBS Group upped their price objective on shares of Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. lifted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $79.28.

Millicom International Cellular Stock Performance

NASDAQ TIGO opened at $98.61 on Wednesday. Millicom International Cellular SA has a twelve month low of $39.01 and a twelve month high of $100.08. The stock has a market cap of $16.67 billion, a P/E ratio of 13.40 and a beta of 0.92. The company’s 50-day simple moving average is $88.93 and its 200 day simple moving average is $76.86. 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 posted its earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%.The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. As a group, research analysts forecast 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.