Millicom International Cellular SA $TIGO Stock Position Decreased by Gabelli Funds LLC

Gabelli Funds LLC cut its position in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 419,100 shares of the technology company’s stock after selling 26,400 shares during the period. Gabelli Funds LLC’s holdings in Millicom International Cellular were worth $23,235,000 as of its most recent SEC filing.

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

Millicom International Cellular Price Performance

Millicom International Cellular stock opened at $80.73 on Tuesday. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. The company has a market capitalization of $13.64 billion, a PE ratio of 10.97 and a beta of 0.93. Millicom International Cellular SA has a one year low of $35.49 and a one year high of $85.26. The business has a 50 day simple moving average of $78.52 and a 200 day simple moving average of $64.57.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, topping 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%. On average, sell-side analysts forecast that Millicom International Cellular SA will post 3.76 EPS for the current fiscal year.

Millicom International Cellular Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 8th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Thursday, April 8th. Millicom International Cellular’s dividend payout ratio (DPR) is 40.76%.

Analyst Upgrades and Downgrades

TIGO has been the subject of a number of recent research reports. Wall Street Zen downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday. Morgan Stanley reissued a “positive” rating and issued a $55.00 price objective on shares of Millicom International Cellular in a research note on Thursday, February 26th. Scotiabank raised their price objective on Millicom International Cellular from $43.00 to $51.20 and gave the company a “sector underperform” rating in a research note on Monday, March 30th. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.64.

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.