Modern Wealth Management LLC Purchases Shares of 8,216 Millicom International Cellular SA $TIGO

Modern Wealth Management LLC acquired a new stake in Millicom International Cellular SA (NASDAQ:TIGO) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,216 shares of the technology company’s stock, valued at approximately $632,000.

Several other institutional investors have also recently made changes to their positions in TIGO. Allworth Financial LP lifted its holdings 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 worth $25,000 after purchasing an additional 418 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in Millicom International Cellular during the 4th quarter valued at approximately $26,000. Blue Trust Inc. lifted its holdings 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 worth $27,000 after buying an additional 427 shares in the last quarter. Spire Wealth Management bought a new position in shares of Millicom International Cellular during the fourth quarter worth $29,000. Finally, GAMMA Investing LLC boosted its position in shares of 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.

Wall Street Analyst Weigh In

TIGO has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. UBS Group increased their price objective on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. Zacks Research cut Millicom International Cellular from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Wall Street Zen cut Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Millicom International Cellular currently has a consensus rating of “Hold” and an average price target of $79.28.

Insider Activity

In related 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 completion of the transaction, the insider owned 165,344 shares of the company’s stock, valued at approximately $14,634,597.44. This trade represents a 22.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 50,140 shares of company stock worth $4,425,461.

Millicom International Cellular Trading Up 0.9%

Shares of TIGO opened at $95.38 on Tuesday. The company’s fifty day moving average is $90.14 and its 200 day moving average is $77.97. Millicom International Cellular SA has a fifty-two week low of $39.01 and a fifty-two week high of $100.75. The stock has a market capitalization of $16.12 billion, a PE ratio of 12.96 and a beta of 0.92. 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 released its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (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. Sell-side analysts expect 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.