Millicom International Cellular SA $TIGO Stock Holdings Raised by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management boosted its Millicom International Cellular stake by 50.2% in the fourth quarter, while several other hedge funds also increased or initiated positions in the stock.
• Analyst sentiment has generally improved: JPMorgan raised its price target to $100 and other firms issued upgrades, leaving the stock with a consensus Moderate Buy rating and a $77.28 target.
• Millicom reported better-than-expected earnings of $0.97 per share and also declared a quarterly dividend of $0.75 per share, implying a 3.4% annualized yield.

Brandywine Global Investment Management LLC raised its stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 50.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 110,551 shares of the technology company's stock after purchasing an additional 36,966 shares during the period. Brandywine Global Investment Management LLC owned 0.06% of Millicom International Cellular worth $6,129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in shares of Millicom International Cellular by 155.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company's stock worth $25,000 after purchasing an additional 314 shares during the last quarter. Allworth Financial LP increased its position in shares of Millicom International Cellular by 1,129.7% in the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company's stock worth $25,000 after purchasing an additional 418 shares during the last quarter. Blue Trust Inc. increased its position in shares of Millicom International Cellular by 736.2% in the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company's stock worth $27,000 after purchasing an additional 427 shares during the last quarter. Spire Wealth Management bought a new stake in shares of Millicom International Cellular in the 4th quarter worth about $29,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Millicom International Cellular in the 3rd quarter worth about $32,000.

Analyst Ratings Changes

Several research firms have recently commented on TIGO. JPMorgan Chase & Co. lifted their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, May 20th. Zacks Research raised shares of Millicom International Cellular from a "strong sell" rating to a "hold" rating in a report on Monday, April 6th. Weiss Ratings raised shares of Millicom International Cellular from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, May 13th. HSBC raised shares of Millicom International Cellular from a "hold" rating to a "buy" rating and set a $89.00 price target for the company in a report on Friday, March 6th. Finally, Wall Street Zen lowered shares of Millicom International Cellular from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.28.

Insider Buying and Selling at Millicom International Cellular

In other news, insider Salvador Escalon sold 49,288 shares of the company'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 value of $4,362,480.88. Following the completion of the sale, the insider directly owned 165,344 shares of the company's stock, valued at approximately $14,634,597.44. This represents a 22.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.52% of the company's stock.

Millicom International Cellular Trading Up 2.2%

Millicom International Cellular stock opened at $89.25 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. The firm has a 50-day moving average price of $82.75 and a two-hundred day moving average price of $68.88. The firm has a market capitalization of $15.08 billion, a price-to-earnings ratio of 12.13 and a beta of 0.91. Millicom International Cellular SA has a 52-week low of $35.62 and a 52-week high of $89.67.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.08. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. Sell-side analysts expect 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 $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Thursday, April 8th. Millicom International Cellular's dividend payout ratio is currently 40.76%.

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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