KBC Group NV Cuts Stock Position in Millicom International Cellular SA $TIGO

KBC Group NV cut its position in Millicom International Cellular SA (NASDAQ:TIGO) by 18.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,199 shares of the technology company’s stock after selling 8,388 shares during the quarter. KBC Group NV’s holdings in Millicom International Cellular were worth $2,713,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TIGO. Allworth Financial LP grew its position in shares of Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock worth $25,000 after buying an additional 418 shares during the last quarter. Altshuler Shaham Ltd bought a new position in shares of Millicom International Cellular during the 4th quarter worth approximately $26,000. Blue Trust Inc. raised its stake in shares of Millicom International Cellular by 736.2% during the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after acquiring an additional 427 shares in the last quarter. Spire Wealth Management purchased a new stake in Millicom International Cellular during the fourth quarter valued at approximately $29,000. Finally, GAMMA Investing LLC lifted 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 valued at $32,000 after acquiring an additional 335 shares during the last quarter.

Insider Buying and Selling

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 50,140 shares of company stock worth $4,425,461. Insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

TIGO has been the subject of several recent analyst reports. Scotiabank raised 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. Wall Street Zen lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research cut Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. raised their price objective 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. Finally, Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Millicom International Cellular presently has a consensus rating of “Hold” and a consensus target price of $79.28.

Millicom International Cellular Trading Down 1.8%

NASDAQ:TIGO opened at $94.54 on Friday. Millicom International Cellular SA has a 12 month low of $39.01 and a 12 month high of $100.75. The firm has a fifty day simple moving average of $89.85 and a 200-day simple moving average of $77.56. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $15.98 billion, a P/E 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 earnings per share 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 firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. On average, equities research analysts anticipate that Millicom International Cellular SA will post 1.78 earnings per share for the current year.

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.