Magnetar Financial LLC Sells 11,241 Shares of Millicom International Cellular SA $TIGO

Key Points

• Magnetar Financial LLC reduced its holdings in Millicom International Cellular SA by 59.4%, owning 7,692 shares worth $233,000 after selling 11,241 shares in the first quarter.
• Significant institutional investments in Millicom International Cellular include Dodge & Cox acquiring a stake valued at approximately $263.4 million and Price T Rowe Associates increasing its position by over 5,000%, now holding 5.57 million shares valued at $168.9 million.
• Analysts have generally increased their ratings for Millicom with price target upgrades; Scotiabank's target rose to $46.10, while UBS Group increased it to $39.50, indicating a consensus of a "Moderate Buy" with an average target of $40.43.

Magnetar Financial LLC decreased its stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 59.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,692 shares of the technology company's stock after selling 11,241 shares during the period. Magnetar Financial LLC's holdings in Millicom International Cellular were worth $233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Boston Partners acquired a new position in Millicom International Cellular during the 1st quarter worth about $73,286,000. Teacher Retirement System of Texas acquired a new position in Millicom International Cellular during the 1st quarter worth about $1,402,000. KBC Group NV acquired a new position in Millicom International Cellular during the 1st quarter worth about $233,000. CWA Asset Management Group LLC lifted its position in Millicom International Cellular by 34.3% during the 1st quarter. CWA Asset Management Group LLC now owns 12,307 shares of the technology company's stock worth $373,000 after buying an additional 3,141 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Millicom International Cellular during the 1st quarter worth about $1,648,000.

Millicom International Cellular Trading Down 1.6%

Shares of TIGO stock traded down $0.76 on Friday, reaching $47.15. The company had a trading volume of 1,266,842 shares, compared to its average volume of 1,201,297. 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 stock has a market cap of $8.11 billion, a PE ratio of 8.32 and a beta of 1.09. The company has a 50-day moving average of $42.30 and a 200-day moving average of $35.90. Millicom International Cellular SA has a 12 month low of $23.61 and a 12 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 EPS for the quarter, missing analysts' consensus estimates 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%. On average, equities analysts forecast that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a dividend yield of 620.0%. Millicom International Cellular's dividend payout ratio is 52.91%.

Analyst Ratings Changes

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

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.