Intech Investment Management LLC Invests $599,000 in Millicom International Cellular SA $TIGO

Intech Investment Management LLC acquired a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,804 shares of the technology company’s stock, valued at approximately $599,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allworth Financial LP raised its stake in Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after acquiring an additional 418 shares during the period. Blue Trust Inc. grew its holdings in Millicom International Cellular by 736.2% in the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock valued at $27,000 after buying an additional 427 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Millicom International Cellular by 155.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after buying an additional 314 shares in the last quarter. Spire Wealth Management acquired a new position in Millicom International Cellular in the 4th quarter valued at $29,000. Finally, GAMMA Investing LLC grew its holdings in Millicom International Cellular by 140.8% in the 4th quarter. GAMMA Investing LLC now owns 573 shares of the technology company’s stock valued at $32,000 after buying an additional 335 shares in the last quarter.

Millicom International Cellular Stock Performance

TIGO opened at $87.36 on Wednesday. The firm has a market cap of $14.76 billion, a P/E ratio of 11.87 and a beta of 0.91. Millicom International Cellular SA has a 52-week low of $35.62 and a 52-week high of $89.49. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62. The business’s fifty day moving average is $82.43 and its 200-day moving average is $68.62.

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, topping the consensus estimate of $0.89 by $0.08. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. Sell-side analysts expect that Millicom International Cellular SA will post 2.34 EPS for the current fiscal year.

Millicom International Cellular Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 8th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $3.00 annualized dividend and a yield of 3.4%. Millicom International Cellular’s dividend payout ratio (DPR) is 40.76%.

Analysts Set New Price Targets

A number of brokerages have commented on TIGO. JPMorgan Chase & Co. upped their price objective on Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. Morgan Stanley reaffirmed a “positive” rating and issued a $55.00 price objective on shares of Millicom International Cellular in a report on Thursday, February 26th. Wall Street Zen lowered Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.28.

Insiders Place Their Bets

In related news, insider Salvador Escalon sold 49,288 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $88.51, for a total value 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. 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 available through this link.

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.