Millicom International Cellular SA $TIGO Stock Position Boosted by Park West Asset Management LLC

Key Points

• Park West Asset Management LLC increased its stake in Millicom International Cellular SA by 513.0%, now holding approximately 1,510,977 shares valued at $45.7 million.
• Millicom International Cellular declared a special dividend of $1.25 to be paid on October 15, representing a remarkable yield of 620.0%.
• In its latest quarterly earnings report, Millicom missed analysts' estimates with $0.51 EPS and reported revenue of $1.37 billion, below the expected $1.40 billion.

Park West Asset Management LLC raised its stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 513.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,510,977 shares of the technology company's stock after acquiring an additional 1,264,480 shares during the period. Millicom International Cellular makes up 3.7% of Park West Asset Management LLC's holdings, making the stock its 8th biggest holding. Park West Asset Management LLC owned approximately 0.88% of Millicom International Cellular worth $45,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. AQR Capital Management LLC increased its position in shares of Millicom International Cellular by 5.0% during the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company's stock valued at $290,000 after acquiring an additional 453 shares during the last quarter. Cerity Partners LLC increased its position in shares of Millicom International Cellular by 4.7% during the first quarter. Cerity Partners LLC now owns 11,208 shares of the technology company's stock valued at $339,000 after acquiring an additional 508 shares during the last quarter. State of Wyoming acquired a new stake in shares of Millicom International Cellular during the fourth quarter valued at about $49,000. LB Partners LLC increased its position in shares of Millicom International Cellular by 0.4% during the first quarter. LB Partners LLC now owns 520,923 shares of the technology company's stock valued at $15,907,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Millicom International Cellular by 72.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock valued at $122,000 after acquiring an additional 2,055 shares during the last quarter.

Millicom International Cellular Stock Down 1.6%

Shares of Millicom International Cellular stock opened at $47.15 on Friday. Millicom International Cellular SA has a 52-week low of $23.61 and a 52-week high of $50.78. The company has a 50 day moving average of $42.30 and a 200 day moving average of $35.83. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $8.11 billion, a P/E ratio of 8.32 and a beta of 1.09.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.03). Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%.The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.40 billion. As a group, research analysts forecast that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

Millicom International Cellular Dividend Announcement

The company also recently declared a special dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 8th will be paid a $1.25 dividend. The ex-dividend date is Wednesday, October 8th. This represents a yield of 620.0%. Millicom International Cellular's payout ratio is currently 52.91%.

Analyst Upgrades and Downgrades

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

Millicom International Cellular Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.