Fideuram Intesa Sanpaolo Private Banking S.P.A. Purchases 16,775 Shares of Millicom International Cellular SA $TIGO

Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its position in Millicom International Cellular SA (NASDAQ:TIGO) by 130.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,608 shares of the technology company’s stock after purchasing an additional 16,775 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Millicom International Cellular were worth $2,219,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Impact Partnership Wealth LLC bought a new stake in Millicom International Cellular in the 1st quarter valued at approximately $220,000. Spinnaker Trust raised its holdings in shares of Millicom International Cellular by 385.7% in the first quarter. Spinnaker Trust now owns 34,000 shares of the technology company’s stock valued at $2,548,000 after purchasing an additional 27,000 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Millicom International Cellular by 10.5% in the first quarter. Pictet Asset Management Holding SA now owns 23,216 shares of the technology company’s stock valued at $1,740,000 after purchasing an additional 2,202 shares during the last quarter. ABN AMRO Bank N.V. bought a new stake in shares of Millicom International Cellular in the first quarter worth $1,301,000. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new position in Millicom International Cellular during the first quarter worth $399,000.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TIGO shares. 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 report on Wednesday, May 20th. Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. UBS Group lowered 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. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Finally, HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research note on Friday, March 6th. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.28.

Insider Buying and Selling at Millicom International Cellular

In other news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction dated 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 transaction, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is owned by insiders.

Millicom International Cellular Stock Performance

Shares of NASDAQ:TIGO opened at $93.76 on Friday. Millicom International Cellular SA has a 52-week low of $36.59 and a 52-week high of $95.38. The company has a market capitalization of $15.85 billion, a P/E ratio of 12.74 and a beta of 0.92. The company has a 50-day simple moving average of $85.67 and a 200 day simple moving average of $73.19. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62.

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, topping analysts’ consensus estimates 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 firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Sell-side analysts forecast that Millicom International Cellular SA will post 1.78 earnings per share for the current 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.