Millicom International Cellular SA $TIGO Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its position in Millicom International Cellular SA (NASDAQ:TIGO) by 18.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 731,404 shares of the technology company’s stock after selling 162,008 shares during the quarter. First Trust Advisors LP’s holdings in Millicom International Cellular were worth $54,811,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. ABN Amro Investment Solutions purchased a new position in Millicom International Cellular during the 1st quarter valued at about $8,924,000. PNC Financial Services Group Inc. lifted its position in shares of Millicom International Cellular by 19.1% during the first quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company’s stock worth $65,000 after purchasing an additional 139 shares in the last quarter. SEB Asset Management AB acquired a new stake in shares of Millicom International Cellular during the first quarter worth about $11,220,000. Swiss National Bank lifted its position in shares of Millicom International Cellular by 1.4% during the first quarter. Swiss National Bank now owns 203,722 shares of the technology company’s stock worth $15,267,000 after purchasing an additional 2,900 shares in the last quarter. Finally, World Equity Group Inc. purchased a new position in shares of Millicom International Cellular in the first quarter valued at approximately $259,000.

Insider Buying and Selling

In related news, insider Salvador Escalon sold 49,288 shares of the 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 transaction, the insider owned 165,344 shares of the company’s stock, valued at $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 50,140 shares of company stock valued at $4,425,461 over the last 90 days. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

TIGO has been the subject of a number of research reports. Scotiabank lifted their price objective on shares of Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a report on Wednesday, May 27th. 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. Wall Street Zen cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. boosted their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Finally, UBS Group upped their price objective on Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $79.28.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $94.54 on Monday. Millicom International Cellular SA has a fifty-two week low of $39.01 and a fifty-two week high of $100.75. The firm’s 50 day moving average price is $89.85 and its 200 day moving average price is $77.70. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. The stock has a market cap of $15.98 billion, a price-to-earnings ratio of 12.85 and a beta of 0.92.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. As a group, equities research analysts predict 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.