Millicom International Cellular SA $TIGO Shares Sold by Hosking Partners LLP

Key Points

• Hosking Partners LLP cut its Millicom International Cellular stake by 6.0% in the fourth quarter, selling 22,558 shares and leaving it with 354,623 shares worth about $19.66 million.
• Millicom reported strong quarterly results, with earnings of $1.50 per share beating estimates of $1.05 and revenue of $1.65 billion topping expectations; revenue rose 15.7% year over year.
• The company also announced a quarterly dividend of $0.75 per share, implying a 3.7% annualized yield, while analysts’ overall view remains Moderate Buy with an average target price of $65.64.

Hosking Partners LLP decreased its position in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 354,623 shares of the technology company's stock after selling 22,558 shares during the quarter. Hosking Partners LLP owned 0.21% of Millicom International Cellular worth $19,660,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TIGO. JPMorgan Chase & Co. boosted its holdings in shares of Millicom International Cellular by 348.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company's stock valued at $313,555,000 after buying an additional 5,020,602 shares during the period. Barclays PLC boosted its holdings in shares of Millicom International Cellular by 1.7% in the 3rd quarter. Barclays PLC now owns 2,895,215 shares of the technology company's stock valued at $140,534,000 after buying an additional 47,194 shares during the period. State Street Corp boosted its holdings in shares of Millicom International Cellular by 129.2% in the 2nd quarter. State Street Corp now owns 1,820,070 shares of the technology company's stock valued at $68,198,000 after buying an additional 1,026,063 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Millicom International Cellular in the 1st quarter valued at about $50,664,000. Finally, Northern Trust Corp boosted its holdings in shares of Millicom International Cellular by 128.2% in the 3rd quarter. Northern Trust Corp now owns 1,271,086 shares of the technology company's stock valued at $61,699,000 after buying an additional 714,158 shares during the period.

Millicom International Cellular Stock Performance

Shares of NASDAQ:TIGO opened at $80.43 on Monday. The company has a 50 day moving average of $77.29 and a 200-day moving average of $62.97. The firm has a market cap of $13.59 billion, a P/E ratio of 10.25 and a beta of 0.93. Millicom International Cellular SA has a twelve month low of $33.74 and a twelve month high of $85.26. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.81.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.45. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.49 billion. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The business's revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS. As a group, analysts anticipate that Millicom International Cellular SA will post 3.23 earnings per share for the current fiscal year.

Millicom International Cellular Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be issued a $0.75 dividend. The ex-dividend date is Thursday, April 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.7%. Millicom International Cellular's dividend payout ratio is 38.22%.

Analyst Ratings Changes

Several research firms have recently commented on TIGO. Scotiabank lifted their price target on shares of Millicom International Cellular from $43.00 to $51.20 and gave the company a "sector underperform" rating in a report on Monday, March 30th. HSBC upgraded Millicom International Cellular from a "hold" rating to a "buy" rating and set a $89.00 price objective for the company in a research report on Friday, March 6th. Weiss Ratings restated a "buy (b)" rating on shares of Millicom International Cellular in a research report on Thursday, January 22nd. Zacks Research upgraded Millicom International Cellular from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. Finally, UBS Group upgraded Millicom International Cellular from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $49.00 to $70.00 in a research report on Thursday, January 15th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $65.64.

Millicom International Cellular Company Profile

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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