Hosking Partners LLP Takes $16.08 Million Position in Millicom International Cellular SA (NASDAQ:TIGO)

Key Points

• Hosking Partners LLP has acquired a significant stake in Millicom International Cellular SA, purchasing 531,208 shares valued at approximately $16 million.
• Millicom recently reported an EPS of $0.51, which was below analysts' expectations of $0.54, along with a revenue of $1.37 billion, missing estimates of $1.40 billion.
• The company has announced a quarterly dividend of $0.75 per share, representing an annualized dividend yield of 7.1%, despite a significant payout ratio of 144.23%.

Hosking Partners LLP acquired a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 531,208 shares of the technology company's stock, valued at approximately $16,080,000. Hosking Partners LLP owned about 0.31% of Millicom International Cellular as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in shares of Millicom International Cellular by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company's stock worth $3,868,000 after buying an additional 1,500 shares during the period. Wells Fargo & Company MN lifted its position in Millicom International Cellular by 72.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock worth $122,000 after purchasing an additional 2,055 shares during the period. BTG Pactual Asset Management US LLC lifted its position in Millicom International Cellular by 9.6% in the fourth quarter. BTG Pactual Asset Management US LLC now owns 53,818 shares of the technology company's stock worth $1,336,000 after purchasing an additional 4,705 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Millicom International Cellular by 37.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 108,680 shares of the technology company's stock worth $2,720,000 after purchasing an additional 29,730 shares during the period. Finally, Park West Asset Management LLC acquired a new stake in Millicom International Cellular in the fourth quarter worth approximately $6,165,000.

Millicom International Cellular Stock Up 1.3%

Millicom International Cellular stock traded up $0.59 during mid-day trading on Wednesday, hitting $44.10. 903,945 shares of the company's stock were exchanged, compared to its average volume of 916,642. The company has a current ratio of 0.89, a quick ratio of 0.74 and a debt-to-equity ratio of 1.59. The stock has a market cap of $7.59 billion, a P/E ratio of 7.78 and a beta of 1.04. Millicom International Cellular SA has a 1-year low of $23.61 and a 1-year high of $44.38. The stock has a 50 day moving average of $38.63 and a two-hundred day moving average of $33.40.

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

Millicom International Cellular Cuts Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend was Tuesday, July 8th. Millicom International Cellular's payout ratio is presently 52.91%.

Wall Street Analysts Forecast Growth

TIGO has been the subject of a number of recent research reports. 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 research report on Tuesday, June 17th. JPMorgan Chase & Co. increased their price objective on Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. UBS Group increased their price objective on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.08.

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.