Millicom International Cellular (NASDAQ:TIGO) Insider Salvador Escalon Sells 49,288 Shares of Stock

Millicom International Cellular SA (NASDAQ:TIGO) insider Salvador Escalon sold 49,288 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 165,344 shares in the company, valued at $14,634,597.44. This 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 can be accessed through this hyperlink.

Millicom International Cellular Price Performance

TIGO stock opened at $86.07 on Thursday. The company has a market capitalization of $14.55 billion, a P/E ratio of 11.69 and a beta of 0.91. Millicom International Cellular SA has a twelve month low of $35.62 and a twelve month high of $89.49. The business has a 50 day simple moving average of $81.62 and a 200-day simple moving average of $67.72. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. As a group, equities analysts anticipate that Millicom International Cellular SA will post 2.34 EPS for the current year.

Millicom International Cellular Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, April 8th. Millicom International Cellular’s dividend payout ratio is presently 40.76%.

Institutional Trading of Millicom International Cellular

A number of hedge funds have recently added to or reduced their stakes in TIGO. CTC Alternative Strategies Ltd. purchased a new stake in Millicom International Cellular during the 1st quarter worth approximately $600,000. Bank of America Corp DE increased its holdings in Millicom International Cellular by 22.0% during the 1st quarter. Bank of America Corp DE now owns 243,778 shares of the technology company’s stock worth $18,269,000 after purchasing an additional 43,947 shares during the last quarter. Altshuler Shaham Ltd increased its holdings in Millicom International Cellular by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 633 shares of the technology company’s stock worth $47,000 after purchasing an additional 170 shares during the last quarter. Amundi increased its holdings in Millicom International Cellular by 120.8% during the 1st quarter. Amundi now owns 529,936 shares of the technology company’s stock worth $39,713,000 after purchasing an additional 289,913 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Millicom International Cellular by 44.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,568 shares of the technology company’s stock worth $267,000 after purchasing an additional 1,098 shares during the last quarter.

Analyst Ratings Changes

TIGO has been the subject of several research analyst reports. Scotiabank increased their price objective on Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a report on Wednesday, May 27th. Morgan Stanley reaffirmed a “positive” rating and set a $55.00 price target on shares of Millicom International Cellular in a report on Thursday, February 26th. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. UBS Group downgraded Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price target for the company. in a report on Tuesday, May 26th. Finally, HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.28.

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.