Sterling Capital Management LLC Sells 6,758 Shares of Millicom International Cellular SA $TIGO

Sterling Capital Management LLC cut its position in Millicom International Cellular SA (NASDAQ:TIGO) by 53.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,772 shares of the technology company’s stock after selling 6,758 shares during the period. Sterling Capital Management LLC’s holdings in Millicom International Cellular were worth $433,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crossmark Global Holdings Inc. increased its position in shares of Millicom International Cellular by 4.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 413,983 shares of the technology company’s stock valued at $22,951,000 after buying an additional 16,126 shares in the last quarter. Assetmark Inc. lifted its holdings in Millicom International Cellular by 31.1% during the fourth quarter. Assetmark Inc. now owns 85,059 shares of the technology company’s stock worth $4,716,000 after acquiring an additional 20,194 shares in the last quarter. Mirabella Financial Services LLP bought a new position in Millicom International Cellular during the third quarter worth about $1,539,000. Causeway Capital Management LLC acquired a new position in Millicom International Cellular in the third quarter valued at about $1,845,000. Finally, SG Americas Securities LLC grew its stake in Millicom International Cellular by 6.6% in the fourth quarter. SG Americas Securities LLC now owns 433,297 shares of the technology company’s stock valued at $24,022,000 after acquiring an additional 26,824 shares during the period.

Millicom International Cellular Price Performance

Shares of TIGO opened at $93.76 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. Millicom International Cellular SA has a twelve month low of $36.59 and a twelve month high of $95.38. The stock has a market capitalization of $15.85 billion, a P/E ratio of 12.74 and a beta of 0.92. The company has a 50 day moving average of $85.67 and a 200-day moving average of $73.19.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wall Street Zen lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. increased their target price on Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price on the stock. in a report on Tuesday, May 26th. Finally, HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Friday, March 6th. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.28.

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 shares were sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the sale, the insider directly owned 165,344 shares of the company’s stock, valued at $14,634,597.44. The trade was a 22.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.52% of the stock is owned by company insiders.

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.