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

Key Points

• Hosking Partners reduced its Millicom International Cellular stake by 8.9% in the third quarter, selling 30,389 shares and retaining 311,922 shares valued at approximately $27.2 million.
• Several institutional investors initiated or expanded positions, including Cullen Capital Management, Bank of New York Mellon, Ohio’s public employees’ retirement system and Amundi, which increased its holdings by 120.8%.
• Millicom declared a quarterly dividend of $0.75, equivalent to $3.00 annually and a 3.7% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $85.68.

Hosking Partners LLP decreased its position in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 8.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 311,922 shares of the technology company's stock after selling 30,389 shares during the period. Hosking Partners LLP owned about 0.18% of Millicom International Cellular worth $27,181,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Cullen Capital Management LLC bought a new stake in Millicom International Cellular during the 2nd quarter valued at $71,258,000. Bank of New York Mellon Corp bought a new stake in Millicom International Cellular in the 2nd quarter worth $45,791,000. Public Employees Retirement System of Ohio bought a new stake in Millicom International Cellular in the 2nd quarter worth $33,503,000. Amundi grew its holdings in Millicom International Cellular by 120.8% in the 1st quarter. Amundi now owns 529,936 shares of the technology company's stock worth $39,713,000 after acquiring an additional 289,913 shares during the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Millicom International Cellular in the first quarter valued at about $18,210,000.

Millicom International Cellular Price Performance

Shares of Millicom International Cellular stock opened at $81.65 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 company has a market cap of $13.80 billion, a PE ratio of 23.12 and a beta of 0.93. The business has a 50 day moving average of $90.67 and a 200 day moving average of $89.04. Millicom International Cellular SA has a 52 week low of $44.88 and a 52 week high of $107.13.

Millicom International Cellular Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Friday, January 8th will be issued a $0.75 dividend. The ex-dividend date is Friday, January 8th. This represents a $3.00 annualized dividend and a yield of 3.7%. Millicom International Cellular's payout ratio is 75.76%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $105.00 price objective (up from $100.00) on shares of Millicom International Cellular in a research note on Tuesday, August 18th. Scotiabank increased their target price on shares of Millicom International Cellular from $52.40 to $60.10 and gave the stock a "sector underperform" rating in a report on Friday, August 7th. Weiss Ratings raised Millicom International Cellular from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Royal Bank Of Canada set a $105.00 price target on Millicom International Cellular in a report on Tuesday, August 18th. Finally, UBS Group boosted their price target on Millicom International Cellular from $90.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $85.68.

Millicom International Cellular Profile

Millicom International Cellular SA is a telecommunications and digital services company operating under the Tigo brand in Latin America. The company provides mobile voice and data services, fixed broadband, pay television, cable connectivity and other communications services to consumers, businesses and government organizations.

Its consumer offerings include wireless plans, home internet, television and digital entertainment services. Through Tigo Money and related financial technology products, Millicom also provides mobile money, digital payments and other financial services in selected markets.

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