Los Angeles Capital Management LLC Trims Stock Holdings in Millicom International Cellular SA $TIGO

Los Angeles Capital Management LLC trimmed its holdings in Millicom International Cellular SA (NASDAQ:TIGO) by 28.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,619 shares of the technology company’s stock after selling 86,721 shares during the period. Los Angeles Capital Management LLC’s holdings in Millicom International Cellular were worth $12,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of TIGO. Royal Bank of Canada grew its stake in Millicom International Cellular by 48.1% in the 1st quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock valued at $1,398,000 after buying an additional 14,990 shares in the last quarter. AQR Capital Management LLC grew its stake in Millicom International Cellular by 5.0% in the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock valued at $290,000 after buying an additional 453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Millicom International Cellular in the 1st quarter valued at approximately $2,188,000. Goldman Sachs Group Inc. purchased a new position in Millicom International Cellular in the 1st quarter valued at approximately $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Millicom International Cellular in the 1st quarter valued at approximately $8,504,000.

Insider Activity

In other 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 completion of the sale, the insider directly owned 165,344 shares of the company’s stock, valued at approximately $14,634,597.44. The trade was a 22.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

Millicom International Cellular Price Performance

TIGO opened at $82.66 on Monday. The company has a fifty day moving average price of $81.98 and a 200-day moving average price of $68.18. The firm has a market capitalization of $13.97 billion, a P/E ratio of 11.23 and a beta of 0.91. 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 $35.62 and a one year high of $89.49.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $1.99 billion during 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%. Equities research analysts expect that Millicom International Cellular SA will post 2.34 earnings per share for the current fiscal year.

Millicom International Cellular Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, April 8th. Millicom International Cellular’s payout ratio is currently 40.76%.

Analysts Set New Price Targets

TIGO has been the subject of a number of recent research reports. Morgan Stanley reiterated a “positive” rating and issued a $55.00 price objective on shares of Millicom International Cellular in a research note on Thursday, February 26th. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Friday, March 6th. JPMorgan Chase & Co. boosted their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Wall Street Zen lowered shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Zacks Research upgraded shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.28.

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.