LB Partners LLC Cuts Stake in Millicom International Cellular SA $TIGO

LB Partners LLC decreased its stake in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 38.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,000 shares of the technology company’s stock after selling 89,000 shares during the period. Millicom International Cellular makes up about 9.6% of LB Partners LLC’s investment portfolio, making the stock its 3rd largest holding. LB Partners LLC’s holdings in Millicom International Cellular were worth $10,716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in TIGO. Impact Partnership Wealth LLC bought a new stake in Millicom International Cellular in the 1st quarter valued at $220,000. Spinnaker Trust raised its stake in shares of Millicom International Cellular by 385.7% in the 1st quarter. Spinnaker Trust now owns 34,000 shares of the technology company’s stock valued at $2,548,000 after purchasing an additional 27,000 shares during the period. Pictet Asset Management Holding SA raised its stake in shares of Millicom International Cellular by 10.5% in the 1st quarter. Pictet Asset Management Holding SA now owns 23,216 shares of the technology company’s stock valued at $1,740,000 after purchasing an additional 2,202 shares during the period. ABN AMRO Bank N.V. bought a new stake in shares of Millicom International Cellular in the first quarter valued at about $1,301,000. Finally, Pinnacle Wealth Management Advisory Group LLC bought a new stake in shares of Millicom International Cellular in the first quarter valued at about $399,000.

Insider Buying and Selling at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of the business’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 transaction, the insider 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is owned by company insiders.

Millicom International Cellular Trading Down 0.3%

Millicom International Cellular stock opened at $90.49 on Thursday. The company has a market cap of $15.29 billion, a price-to-earnings ratio of 12.29 and a beta of 0.91. The firm has a 50-day moving average of $85.25 and a 200-day moving average of $72.75. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. Millicom International Cellular SA has a one year low of $36.59 and a one year high of $94.73.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.99 billion. On average, equities analysts expect that Millicom International Cellular SA will post 1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TIGO has been the subject of a number of research reports. Wall Street Zen downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Friday, March 6th. Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Finally, UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a report 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.28.

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.