Millicom International Cellular (NASDAQ:TIGO) Sees Strong Trading Volume – Time to Buy?

Shares of Millicom International Cellular SA (NASDAQ:TIGO) saw strong trading volume on Friday . 4,196,136 shares changed hands during mid-day trading, an increase of 179% from the previous session’s volume of 1,501,577 shares.The stock last traded at $88.7820 and had previously closed at $88.46.

Analyst Upgrades and Downgrades

Several research firms have commented on TIGO. 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. Weiss Ratings raised shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. Zacks Research upgraded shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Friday, March 6th. Finally, UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price for the company. in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.28.

Millicom International Cellular Stock Performance

The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $15.08 billion, a PE ratio of 12.13 and a beta of 0.91. The business has a 50 day simple moving average of $84.71 and a 200 day simple moving average of $71.75.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%.The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Equities research analysts predict that Millicom International Cellular SA will post 1.78 EPS for the current fiscal year.

Insider Activity

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Millicom International Cellular

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in Millicom International Cellular by 48.1% in the 1st quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock worth $1,398,000 after acquiring an additional 14,990 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Millicom International Cellular by 5.0% in the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock valued at $290,000 after purchasing an additional 453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Millicom International Cellular in the first quarter valued at about $2,188,000. Goldman Sachs Group Inc. purchased a new position in shares of Millicom International Cellular in the first quarter worth about $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Millicom International Cellular in the first quarter worth about $8,504,000.

Millicom International Cellular Company 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.