Cullen Capital Management LLC Purchases Shares of 785,131 Millicom International Cellular SA $TIGO

Cullen Capital Management LLC acquired a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 785,131 shares of the technology company’s stock, valued at approximately $71,258,000.

Several other large investors also recently made changes to their positions in the business. Great Lakes Advisors LLC acquired a new position in shares of Millicom International Cellular during the 2nd quarter valued at $228,000. Commerzbank Aktiengesellschaft FI acquired a new stake in Millicom International Cellular in the 2nd quarter valued at $1,569,000. Bank of New York Mellon Corp purchased a new position in Millicom International Cellular in the second quarter valued at about $45,791,000. Assenagon Asset Management S.A. purchased a new position in Millicom International Cellular in the second quarter valued at about $632,000. Finally, GK Wealth Management LLC acquired a new position in shares of Millicom International Cellular during the second quarter worth about $316,000.

Insider Buying and Selling

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider owned 165,344 shares in the company, valued at $14,634,597.44. This trade represents a 22.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Millicom International Cellular Stock Down 0.8%

Shares of Millicom International Cellular stock opened at $92.97 on Tuesday. Millicom International Cellular SA has a 1-year low of $44.88 and a 1-year high of $107.13. The company has a market capitalization of $15.71 billion, a PE ratio of 23.48 and a beta of 0.91. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.53 and a quick ratio of 0.51. The business has a 50-day moving average of $93.28 and a 200-day moving average of $83.14.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TIGO shares. Royal Bank Of Canada set a $105.00 target price on Millicom International Cellular in a research note on Tuesday, August 18th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $105.00 price target (up from $100.00) on shares of Millicom International Cellular in a research report on Tuesday, August 18th. Scotiabank increased their price objective on shares of Millicom International Cellular from $52.40 to $60.10 and gave the company a “sector underperform” rating in a research report on Friday, August 7th. UBS Group lifted their price objective on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $85.68.

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.