XTX Topco Ltd Makes New $1.01 Million Investment in Millicom International Cellular SA (NASDAQ:TIGO)

Key Points

• XTX Topco Ltd has acquired a new stake in Millicom International Cellular SA, purchasing 33,336 shares valued at approximately $1,009,000.
• Millicom reported quarterly earnings per share of $1.14, beating analyst expectations, although its revenue of $1.37 billion fell short of forecasts.
• Millicom recently cut its dividend payout ratio to 144.23%, indicating potential financial strain, despite maintaining a quarterly dividend of $0.75 per share.

XTX Topco Ltd acquired a new stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 33,336 shares of the technology company's stock, valued at approximately $1,009,000.

Several other large investors also recently added to or reduced their stakes in the business. Cerity Partners LLC grew its position in Millicom International Cellular by 4.7% in the first quarter. Cerity Partners LLC now owns 11,208 shares of the technology company's stock worth $339,000 after acquiring an additional 508 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Millicom International Cellular by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company's stock valued at $3,868,000 after purchasing an additional 1,500 shares during the period. State of Wyoming acquired a new position in shares of Millicom International Cellular in the 4th quarter valued at $49,000. LB Partners LLC raised its stake in shares of Millicom International Cellular by 0.4% in the 1st quarter. LB Partners LLC now owns 520,923 shares of the technology company's stock valued at $15,907,000 after buying an additional 2,000 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Millicom International Cellular by 72.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock worth $122,000 after acquiring an additional 2,055 shares in the last quarter.

Millicom International Cellular Stock Up 7.3%

Shares of NASDAQ:TIGO traded up $2.93 during trading on Thursday, hitting $42.87. 1,500,244 shares of the company's stock traded hands, compared to its average volume of 893,248. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 20.55 and a beta of 1.04. Millicom International Cellular SA has a 52 week low of $23.61 and a 52 week high of $43.30. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.65. The company has a 50-day moving average price of $38.18 and a 200-day moving average price of $32.94.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released 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 net margin of 6.20% and a return on equity of 10.02%. As a group, research analysts forecast that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Millicom International Cellular Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 8th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Tuesday, July 8th. Millicom International Cellular's payout ratio is currently 144.23%.

Analyst Upgrades and Downgrades

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