235,375 Shares in Millicom International Cellular SA (NASDAQ:TIGO) Bought by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. acquired 235,375 shares of Millicom International Cellular SA, valued at approximately $7.1 million, indicating growing institutional interest in the company.
• Millicom reported a quarterly earnings per share of $1.14, surpassing estimates but showing a 7.6% decline in revenue year-over-year, which raises concerns about future performance.
• The company's recent dividend payout has a yield of 7.4%, but the payout ratio stands at 144.23%, potentially unsustainable moving forward.

Jupiter Asset Management Ltd. acquired a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 235,375 shares of the technology company's stock, valued at approximately $7,125,000. Jupiter Asset Management Ltd. owned about 0.14% of Millicom International Cellular at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. State of Wyoming acquired a new position in Millicom International Cellular in the fourth quarter valued at approximately $49,000. Wells Fargo & Company MN grew its holdings in shares of Millicom International Cellular by 72.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock valued at $122,000 after purchasing an additional 2,055 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Millicom International Cellular by 65.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock worth $190,000 after acquiring an additional 2,489 shares during the last quarter. EWA LLC bought a new stake in Millicom International Cellular during the 1st quarter worth approximately $201,000. Finally, Spinnaker Trust acquired a new position in shares of Millicom International Cellular in the 1st quarter worth approximately $212,000.

Millicom International Cellular Trading Up 7.1%

NASDAQ:TIGO traded up $2.84 during mid-day trading on Thursday, hitting $42.78. 1,350,538 shares of the stock traded hands, compared to its average volume of 892,144. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.65. The firm's 50 day moving average is $38.18 and its two-hundred day moving average is $32.94. Millicom International Cellular SA has a 52 week low of $23.61 and a 52 week high of $43.30. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of 20.43 and a beta of 1.04.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). Millicom International Cellular had a return on equity of 10.02% and a net margin of 6.20%. On average, equities research analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th were paid a dividend of $0.75 per share. The ex-dividend date was Tuesday, July 8th. This represents a $3.00 dividend on an annualized basis and a yield of 7.0%. Millicom International Cellular's dividend payout ratio is presently 144.23%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TIGO. JPMorgan Chase & Co. upped their price objective on shares of Millicom International Cellular from $41.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. UBS Group lifted their price target on shares of Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a research note on Friday, May 16th. Wall Street Zen downgraded shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Scotiabank cut shares of Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 target price on the stock. in a report on Tuesday, June 17th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.08.

About Millicom International Cellular

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.