GSA Capital Partners LLP Makes New Investment in Millicom International Cellular SA (NASDAQ:TIGO)

Key Points

• GSA Capital Partners LLP has invested approximately $1.65 million in Millicom International Cellular SA, acquiring over 54,000 shares in the first quarter.
• Millicom International Cellular recently reported earnings of $1.14 per share, surpassing estimates, but its quarterly revenue decreased by 7.6% year-over-year.
• The company's dividend payout ratio stands at 144.23%, and it recently announced a quarterly dividend of $0.75 per share, reflecting an annualized yield of 7.50%.

GSA Capital Partners LLP acquired a new stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 54,441 shares of the technology company's stock, valued at approximately $1,648,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TIGO. Geode Capital Management LLC grew its position in shares of 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. Wells Fargo & Company MN lifted its stake in Millicom International Cellular by 72.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock valued at $122,000 after acquiring an additional 2,055 shares in the last quarter. BTG Pactual Asset Management US LLC lifted its stake in Millicom International Cellular by 9.6% in the 4th quarter. BTG Pactual Asset Management US LLC now owns 53,818 shares of the technology company's stock valued at $1,336,000 after acquiring an additional 4,705 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Millicom International Cellular by 37.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 108,680 shares of the technology company's stock valued at $2,720,000 after acquiring an additional 29,730 shares in the last quarter. Finally, Park West Asset Management LLC bought a new stake in Millicom International Cellular in the 4th quarter valued at approximately $6,165,000.

Millicom International Cellular Stock Down 1.4%

TIGO traded down $0.56 during trading on Wednesday, reaching $39.45. 623,362 shares of the stock were exchanged, compared to its average volume of 1,150,727. The stock has a market cap of $6.79 billion, a P/E ratio of 18.97 and a beta of 1.06. Millicom International Cellular SA has a twelve month low of $23.61 and a twelve month high of $43.03. The stock's 50 day moving average price is $37.76 and its two-hundred day moving average price is $32.40. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.74 and a current ratio of 0.76.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.23. Millicom International Cellular had a return on equity of 10.02% and a net margin of 6.20%. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same period last year, the business earned $0.54 EPS. Millicom International Cellular's quarterly revenue was down 7.6% compared to the same quarter last year. Equities analysts expect that Millicom International Cellular SA will post 1.91 EPS for the current year.

Millicom International Cellular Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 7.60%. The ex-dividend date of this dividend was Tuesday, July 8th. Millicom International Cellular's dividend payout ratio is presently 144.23%.

Analyst Ratings Changes

TIGO has been the subject of several research analyst reports. Barclays lowered their price objective on shares of Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. UBS Group raised their price objective on Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. raised their price objective on Millicom International Cellular from $41.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Wall Street Zen cut Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Scotiabank downgraded Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 price objective for the company. in a report on Tuesday, June 17th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Millicom International Cellular has a consensus rating of "Moderate Buy" and a consensus target price of $38.08.

Millicom International Cellular 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.