Public Employees Retirement System of Ohio Buys Shares of 369,134 Millicom International Cellular SA $TIGO

Public Employees Retirement System of Ohio purchased a new position in Millicom International Cellular SA (NASDAQ:TIGO) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 369,134 shares of the technology company’s stock, valued at approximately $33,503,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in shares of Millicom International Cellular by 896.7% in the 2nd quarter. Versant Capital Management Inc now owns 299 shares of the technology company’s stock worth $27,000 after purchasing an additional 269 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Millicom International Cellular by 1,129.7% during the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock worth $25,000 after purchasing an additional 418 shares during the period. Altshuler Shaham Ltd purchased a new position in Millicom International Cellular in the fourth quarter valued at about $26,000. PNC Financial Services Group Inc. increased its stake in shares of Millicom International Cellular by 19.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 866 shares of the technology company’s stock worth $65,000 after purchasing an additional 139 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Millicom International Cellular in the 4th quarter valued at approximately $61,000.

Insider Activity at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of Millicom International Cellular stock in a transaction 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is currently owned by company insiders.

Millicom International Cellular Stock Performance

Shares of TIGO opened at $93.38 on Friday. Millicom International Cellular SA has a 12 month low of $44.88 and a 12 month high of $107.13. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 3.07. The stock has a market capitalization of $15.78 billion, a P/E ratio of 23.58 and a beta of 0.91. The firm’s fifty day simple moving average is $93.94 and its two-hundred day simple moving average is $83.83.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. UBS Group raised their price target on shares of Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $105.00 price target (up from $100.00) on shares of Millicom International Cellular in a report on Tuesday, August 18th. Scotiabank upped their target price on shares of Millicom International Cellular from $52.40 to $60.10 and gave the company a “sector underperform” rating in a research note on Friday, August 7th. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.