Cubist Systematic Strategies LLC Makes New $2.78 Million Investment in Millicom International Cellular SA $TIGO

Key Points

• Cubist Systematic Strategies LLC invested approximately $2.78 million in Millicom International Cellular SA by acquiring 91,904 shares in the 1st quarter.
• Millicom recently declared a special dividend of $1.25, yielding 620.0%, set to be paid on October 15th to shareholders of record by October 8th.
• Analysts have upgraded Millicom's stock rating to "strong-buy" with several firms adjusting their price targets significantly higher, reflecting positive growth expectations.

Cubist Systematic Strategies LLC purchased a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 91,904 shares of the technology company's stock, valued at approximately $2,782,000. Cubist Systematic Strategies LLC owned about 0.05% of Millicom International Cellular as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Boston Partners purchased a new stake in shares of Millicom International Cellular during the 1st quarter valued at $73,286,000. Teacher Retirement System of Texas purchased a new stake in shares of Millicom International Cellular during the 1st quarter valued at $1,402,000. KBC Group NV purchased a new stake in shares of Millicom International Cellular during the 1st quarter valued at $233,000. CWA Asset Management Group LLC boosted its position in Millicom International Cellular by 34.3% during the 1st quarter. CWA Asset Management Group LLC now owns 12,307 shares of the technology company's stock worth $373,000 after purchasing an additional 3,141 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Millicom International Cellular during the 1st quarter worth $1,648,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Zacks Research raised shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Scotiabank upped their price target on shares of Millicom International Cellular from $37.00 to $46.10 and gave the stock a "sector perform" rating in a research report on Tuesday, August 19th. JPMorgan Chase & Co. upped their price target on shares of Millicom International Cellular from $50.00 to $55.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. UBS Group cut shares of Millicom International Cellular from a "buy" rating to a "neutral" rating and upped their price target for the stock from $39.50 to $49.00 in a research report on Thursday. Finally, Wall Street Zen raised shares of Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 25th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Millicom International Cellular presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.02.

Millicom International Cellular Stock Down 1.7%

NASDAQ:TIGO traded down $0.81 on Thursday, reaching $47.16. The stock had a trading volume of 1,107,814 shares, compared to its average volume of 1,111,652. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.59. The company has a 50-day moving average of $43.07 and a 200 day moving average of $36.40. The stock has a market cap of $8.12 billion, a P/E ratio of 8.32 and a beta of 1.09. Millicom International Cellular SA has a 12-month low of $23.61 and a 12-month high of $50.78.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.03). The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.40 billion. Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. On average, research analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular Dividend Announcement

The business also recently announced a special dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th will be paid a $1.25 dividend. This represents a dividend yield of 620.0%. The ex-dividend date is Wednesday, October 8th. Millicom International Cellular's dividend payout ratio is 52.91%.

Millicom International Cellular Company Profile

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.