Los Angeles Capital Management LLC Sells 86,721 Shares of Millicom International Cellular SA $TIGO

Key Points

• Los Angeles Capital Management cut its Millicom International Cellular stake by 28.2% in the fourth quarter, selling 86,721 shares and leaving it with 220,619 shares worth about $12.2 million.
• Millicom reported better-than-expected quarterly earnings of $0.97 per share, topping estimates by $0.08, while revenue matched analyst expectations at $1.99 billion.
• The company also declared a quarterly dividend of $0.75 per share and has attracted mixed but generally positive analyst coverage, with a consensus rating of Moderate Buy and a target price of $77.28.

Los Angeles Capital Management LLC decreased its holdings in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 28.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 220,619 shares of the technology company's stock after selling 86,721 shares during the quarter. Los Angeles Capital Management LLC owned 0.13% of Millicom International Cellular worth $12,231,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in shares of Millicom International Cellular by 348.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company's stock worth $313,555,000 after buying an additional 5,020,602 shares in the last quarter. Barclays PLC lifted its position in shares of Millicom International Cellular by 1.7% during the 3rd quarter. Barclays PLC now owns 2,895,215 shares of the technology company's stock worth $140,534,000 after buying an additional 47,194 shares in the last quarter. State Street Corp lifted its position in shares of Millicom International Cellular by 129.2% during the 2nd quarter. State Street Corp now owns 1,820,070 shares of the technology company's stock worth $68,198,000 after buying an additional 1,026,063 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Millicom International Cellular during the 1st quarter worth approximately $50,664,000. Finally, Northern Trust Corp lifted its position in shares of Millicom International Cellular by 128.2% during the 3rd quarter. Northern Trust Corp now owns 1,271,086 shares of the technology company's stock worth $61,699,000 after buying an additional 714,158 shares in the last quarter.

Millicom International Cellular Stock Performance

Shares of TIGO stock opened at $82.66 on Monday. The company has a 50 day moving average of $81.98 and a 200-day moving average of $68.18. 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 $89.49. The firm has a market cap of $13.97 billion, a P/E ratio of 11.23 and a beta of 0.91.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its quarterly 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. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Sell-side analysts anticipate that Millicom International Cellular SA will post 2.34 earnings per share for the current year.

Millicom International Cellular Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, April 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.6%. Millicom International Cellular's dividend payout ratio (DPR) is presently 40.76%.

Insider Activity

In other news, insider Salvador Escalon sold 49,288 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the completion of the sale, the insider owned 165,344 shares in the company, valued at $14,634,597.44. This trade represents a 22.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on TIGO. UBS Group cut shares of Millicom International Cellular from a "buy" rating to a "neutral" rating and set a $90.00 target price on the stock. in a research report on Tuesday, May 26th. HSBC raised shares of Millicom International Cellular from a "hold" rating to a "buy" rating and set a $89.00 target price on the stock in a research report on Friday, March 6th. JPMorgan Chase & Co. lifted their target price on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 20th. Zacks Research raised shares of Millicom International Cellular from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. Finally, Morgan Stanley reissued a "positive" rating and set a $55.00 target price on shares of Millicom International Cellular in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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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