Fox Run Management L.L.C. Acquires New Shares in Millicom International Cellular SA $TIGO

Key Points

• Fox Run Management disclosed a new stake in Millicom International Cellular, buying 15,714 shares valued at about $871,000 in the fourth quarter.
• Millicom also saw broad institutional interest, with firms like Cerity Partners, LPL Financial, Franklin Resources, Brandywine Global, and JPMorgan Chase all increasing their holdings during the quarter.
• The company reported better-than-expected earnings of $0.97 per share on revenue of $1.99 billion, while analysts remain mixed overall with a Moderate Buy consensus and a $77.28 average price target.

Fox Run Management L.L.C. acquired a new stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 15,714 shares of the technology company's stock, valued at approximately $871,000.

Several other hedge funds also recently modified their holdings of the company. Cerity Partners LLC boosted its holdings in shares of Millicom International Cellular by 9.5% during the 4th quarter. Cerity Partners LLC now owns 15,612 shares of the technology company's stock valued at $866,000 after acquiring an additional 1,358 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Millicom International Cellular by 27.0% during the 4th quarter. LPL Financial LLC now owns 35,474 shares of the technology company's stock valued at $1,967,000 after acquiring an additional 7,541 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Millicom International Cellular by 30.7% during the 4th quarter. Franklin Resources Inc. now owns 371,022 shares of the technology company's stock valued at $20,569,000 after acquiring an additional 87,063 shares in the last quarter. Brandywine Global Investment Management LLC boosted its holdings in shares of Millicom International Cellular by 50.2% during the 4th quarter. Brandywine Global Investment Management LLC now owns 110,551 shares of the technology company's stock valued at $6,129,000 after acquiring an additional 36,966 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Millicom International Cellular by 3.9% during the 4th quarter. JPMorgan Chase & Co. now owns 6,713,607 shares of the technology company's stock valued at $372,202,000 after acquiring an additional 253,891 shares in the last quarter.

Insider Buying and Selling at Millicom International Cellular

In other news, insider Salvador Escalon sold 49,288 shares of Millicom International Cellular stock in a transaction dated 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 completion of the transaction, the insider directly owned 165,344 shares of the company's stock, valued at approximately $14,634,597.44. This trade represents a 22.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.52% of the company's stock.

Millicom International Cellular Stock Up 2.2%

Shares of NASDAQ:TIGO opened at $89.25 on Thursday. The firm has a market cap of $15.08 billion, a P/E ratio of 12.13 and a beta of 0.91. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. Millicom International Cellular SA has a 12-month low of $35.62 and a 12-month high of $89.67. The business has a fifty day simple moving average of $82.75 and a 200 day simple moving average of $68.88.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%. Analysts predict that Millicom International Cellular SA will post 2.34 earnings per share for the current year.

Millicom International Cellular Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TIGO shares. Wall Street Zen downgraded Millicom International Cellular from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. JPMorgan Chase & Co. raised their price objective on Millicom International Cellular from $86.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, May 20th. HSBC raised Millicom International Cellular from a "hold" rating to a "buy" rating and set a $89.00 price objective on the stock in a report on Friday, March 6th. Scotiabank raised their price objective on Millicom International Cellular from $51.20 to $52.40 and gave the company a "sector underperform" rating in a report on Wednesday, May 27th. Finally, UBS Group downgraded Millicom International Cellular from a "buy" rating to a "neutral" rating and set a $90.00 price objective on the stock. in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $77.28.

About Millicom International Cellular

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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