First Trust Advisors LP Cuts Stock Holdings in Millicom International Cellular SA $TIGO

First Trust Advisors LP lessened its position in Millicom International Cellular SA (NASDAQ:TIGO) by 18.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 owned about 0.43% of Millicom International Cellular worth $54,811,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TIGO. Allworth Financial LP raised its stake in Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after purchasing an additional 418 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of Millicom International Cellular during the fourth quarter worth $26,000. Blue Trust Inc. raised its position in shares of Millicom International Cellular by 736.2% in the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock valued at $27,000 after buying an additional 427 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Millicom International Cellular in the fourth quarter worth about $29,000. Finally, GAMMA Investing LLC boosted its position in Millicom International Cellular by 140.8% during the fourth quarter. GAMMA Investing LLC now owns 573 shares of the technology company’s stock worth $32,000 after acquiring an additional 335 shares during the last quarter.

Insider Buying and Selling at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of Millicom International Cellular 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 completion of the sale, the insider directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 50,140 shares of company stock worth $4,425,461 in the last ninety days. 0.52% of the stock is owned by company insiders.

Millicom International Cellular Stock Performance

Shares of Millicom International Cellular stock opened at $94.54 on Monday. The firm has a market cap of $15.98 billion, a PE ratio of 12.85 and a beta of 0.92. 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 SA has a 52 week low of $39.01 and a 52 week high of $100.75. The business’s fifty day simple moving average is $89.85 and its 200-day simple moving average is $77.70.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share (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 firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Equities analysts forecast that Millicom International Cellular SA will post 1.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TIGO has been the subject of a number of recent research reports. Zacks Research downgraded shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Scotiabank upped their price target on Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a research report on Wednesday, May 27th. Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. boosted 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. Finally, UBS Group upped their target price on Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $79.28.

Millicom International Cellular Profile

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.