ABN Amro Investment Solutions Buys New Shares in Millicom International Cellular SA $TIGO

ABN Amro Investment Solutions bought a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 119,081 shares of the technology company’s stock, valued at approximately $8,924,000. ABN Amro Investment Solutions owned approximately 0.07% of Millicom International Cellular as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Millicom International Cellular by 3.9% during the 4th quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company’s stock worth $372,202,000 after purchasing an additional 253,891 shares in the last quarter. State Street Corp increased its position in shares of Millicom International Cellular by 14.9% during the fourth quarter. State Street Corp now owns 2,279,268 shares of the technology company’s stock valued at $126,364,000 after purchasing an additional 296,319 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Millicom International Cellular in the first quarter valued at $50,664,000. Boston Partners raised its stake in shares of Millicom International Cellular by 2.7% in the fourth quarter. Boston Partners now owns 1,603,730 shares of the technology company’s stock valued at $88,911,000 after purchasing an additional 41,765 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Millicom International Cellular by 128.2% in the third quarter. Northern Trust Corp now owns 1,271,086 shares of the technology company’s stock valued at $61,699,000 after purchasing an additional 714,158 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts recently commented on TIGO shares. JPMorgan Chase & Co. raised their target price on Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Zacks Research cut shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Weiss Ratings raised 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 lowered shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Scotiabank upped 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. One research 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. Based on data from MarketBeat.com, Millicom International Cellular currently has a consensus rating of “Hold” and an average target price of $79.28.

Insiders Place Their Bets

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were 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 approximately $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 50,140 shares of company stock worth $4,425,461 over the last quarter. 0.52% of the stock is currently owned by corporate insiders.

Millicom International Cellular Stock Performance

Millicom International Cellular stock opened at $97.86 on Thursday. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. The stock has a fifty day moving average price of $89.25 and a two-hundred day moving average price of $77.16. Millicom International Cellular SA has a 52-week low of $39.01 and a 52-week high of $100.75. The firm has a market capitalization of $16.54 billion, a P/E ratio of 13.30 and a beta of 0.92.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate 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, analysts anticipate 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.