Barclays PLC Decreases Stake in Millicom International Cellular SA $TIGO

Barclays PLC lowered its stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,860,379 shares of the technology company's stock after selling 34,836 shares during the period. Barclays PLC owned 1.66% of Millicom International Cellular worth $158,579,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TIGO. JPMorgan Chase & Co. grew its position in shares of Millicom International Cellular by 348.9% in the third quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company's stock valued at $313,555,000 after purchasing an additional 5,020,602 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of Millicom International Cellular by 15.0% in the 3rd quarter. William Blair Investment Management LLC now owns 128,350 shares of the technology company's stock worth $6,230,000 after acquiring an additional 16,695 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Millicom International Cellular by 4.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 413,983 shares of the technology company's stock worth $22,951,000 after acquiring an additional 16,126 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Millicom International Cellular by 31.1% in the 4th quarter. Assetmark Inc. now owns 85,059 shares of the technology company's stock worth $4,716,000 after acquiring an additional 20,194 shares during the last quarter. Finally, Mirabella Financial Services LLP purchased a new stake in Millicom International Cellular during the 3rd quarter worth approximately $1,539,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TIGO shares. Scotiabank increased their price objective on shares of Millicom International Cellular from $51.20 to $52.40 and gave the company a "sector underperform" rating in a research report on Wednesday, May 27th. Weiss Ratings upgraded shares of Millicom International Cellular from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of Millicom International Cellular from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. UBS Group downgraded shares of Millicom International Cellular from a "buy" rating to a "neutral" rating and set a $90.00 price target for the company. in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.28.

Millicom International Cellular Trading Down 4.6%

NASDAQ TIGO opened at $89.45 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The company's fifty day simple moving average is $83.63 and its 200-day simple moving average is $69.69. The stock has a market cap of $15.12 billion, a P/E ratio of 12.15 and a beta of 0.91. Millicom International Cellular SA has a 52 week low of $35.62 and a 52 week high of $94.73.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate 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 predict that Millicom International Cellular SA will post 1.78 EPS for the current fiscal year.

Millicom International Cellular Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be issued a $0.75 dividend. The ex-dividend date is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.4%. Millicom International Cellular's dividend payout ratio is currently 40.76%.

Insider Buying and Selling

In related news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 165,344 shares in the company, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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.

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