HighTower Advisors LLC Takes Position in Millicom International Cellular SA $TIGO

Key Points

• HighTower Advisors LLC invested approximately $218,000 in Millicom International Cellular SA by acquiring 7,218 shares in the first quarter, reflecting growing institutional interest in the company.
• Analysts have recently increased price targets for Millicom International Cellular, with JPMorgan raising it from $50 to $55, and several upgrades to the stock's ratings, indicating positive outlooks from the financial community.
• Millicom International Cellular reported $0.51 EPS for the last quarter, which fell short of the consensus estimate, along with revenue of $1.37 billion, contributing to a net margin of 16.97%.

HighTower Advisors LLC bought a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 7,218 shares of the technology company's stock, valued at approximately $218,000.

A number of other institutional investors also recently made changes to their positions in the stock. Southeastern Asset Management Inc. TN purchased a new stake in Millicom International Cellular in the 4th quarter worth approximately $60,306,000. Victory Capital Management Inc. bought a new position in shares of Millicom International Cellular during the first quarter worth $22,999,000. Deutsche Bank AG acquired a new stake in shares of Millicom International Cellular in the 1st quarter valued at about $20,385,000. Hosking Partners LLP acquired a new position in Millicom International Cellular during the first quarter worth approximately $16,080,000. Finally, LB Partners LLC boosted its stake in shares of Millicom International Cellular by 0.4% in the first 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 during the period.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wall Street Zen raised Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 25th. Scotiabank upped their price target on shares of Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a report on Tuesday, August 19th. Zacks Research upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. UBS Group upped their price objective on shares of Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $40.43.

Millicom International Cellular Trading Down 1.1%

Shares of TIGO stock traded down $0.51 on Monday, hitting $46.64. The stock had a trading volume of 718,571 shares, compared to its average volume of 940,494. 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 fifty day moving average price of $42.30 and a two-hundred day moving average price of $35.96. The firm has a market cap of $8.03 billion, a P/E ratio of 8.21 and a beta of 1.08. Millicom International Cellular SA has a twelve month low of $23.61 and a twelve month high of $50.78.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.03). The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%. As a group, analysts forecast that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular Dividend Announcement

The company 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 currently 52.91%.

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.