Millicom International Cellular SA $TIGO Shares Purchased by Tidal Investments LLC

Key Points

• Tidal Investments increased its Millicom International Cellular stake by 232.9% in the second quarter, ending with 21,586 shares valued at approximately $1.96 million. Several other institutional investors also established or expanded positions.
• Analyst sentiment is mixed: three analysts rate the stock Buy, three Hold and one Sell. The consensus rating is Hold, with an average price target of $85.68, below the reported $95.55 opening price.
• Millicom declared a quarterly dividend of $0.75 per share, equivalent to $3.00 annually and a 3.1% yield. The stock was trading near its 52-week high, with a market capitalization of $16.15 billion.

Tidal Investments LLC raised its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 232.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,586 shares of the technology company's stock after acquiring an additional 15,101 shares during the period. Tidal Investments LLC's holdings in Millicom International Cellular were worth $1,959,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Cullen Capital Management LLC bought a new position in shares of Millicom International Cellular in the second quarter worth $71,258,000. Marathon Asset Management Ltd raised its stake in shares of Millicom International Cellular by 11.8% during the fourth quarter. Marathon Asset Management Ltd now owns 1,101,022 shares of the technology company's stock valued at $61,074,000 after purchasing an additional 116,494 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new stake in shares of Millicom International Cellular during the fourth quarter valued at about $55,440,000. Bank of New York Mellon Corp acquired a new stake in Millicom International Cellular in the second quarter worth about $45,791,000. Finally, Renaissance Technologies LLC lifted its holdings in Millicom International Cellular by 18.9% in the first quarter. Renaissance Technologies LLC now owns 549,792 shares of the technology company's stock worth $41,201,000 after purchasing an additional 87,400 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. UBS Group increased their target price on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Zacks Research upgraded shares of Millicom International Cellular from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Weiss Ratings lowered shares of Millicom International Cellular from a "buy (a-)" rating to a "buy (b)" rating in a research note on Friday, August 21st. Scotiabank increased their price objective on shares of Millicom International Cellular from $52.40 to $60.10 and gave the company a "sector underperform" rating in a report on Friday, August 7th. Finally, Royal Bank Of Canada set a $105.00 price objective on shares of Millicom International Cellular in a research note on Tuesday, August 18th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $85.68.

Millicom International Cellular Trading Down 0.3%

Shares of Millicom International Cellular stock opened at $95.55 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 3.07. The firm has a market cap of $16.15 billion, a price-to-earnings ratio of 24.13 and a beta of 0.92. The business has a fifty day simple moving average of $95.05 and a 200-day simple moving average of $86.59. Millicom International Cellular SA has a fifty-two week low of $44.88 and a fifty-two week high of $107.13.

Millicom International Cellular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Friday, January 8th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, January 8th. Millicom International Cellular's dividend payout ratio is presently 75.76%.

Millicom International Cellular Company Profile

Millicom International Cellular SA is a telecommunications and digital services company that operates under the Tigo brand. The company provides mobile voice and data services, fixed broadband, pay television and other connectivity solutions to consumers, businesses and institutions.

Millicom also offers digital products and services, including mobile financial services, digital payments, entertainment and cloud and information technology solutions. Through Tigo Business, it provides connectivity, communications and technology services designed for small businesses, large enterprises and government organizations.

The company serves customers in Latin America, with operations in Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Paraguay.

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