Millicom International Cellular SA $TIGO Stock Sold by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management reduced its Millicom International Cellular stake by 28.3%, selling 57,920 shares and retaining 146,704 shares valued at approximately $12.8 million.
• Other institutional investors increased exposure to Millicom, including Cullen Capital Management, Bank of New York Mellon, Ohio’s public employees’ retirement system, and Amundi.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus and an average price target of $85.68. Millicom also declared a quarterly dividend of $0.75 per share, representing a 3.7% annualized yield.

Triasima Portfolio Management inc. cut its stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 28.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 146,704 shares of the technology company's stock after selling 57,920 shares during the period. Millicom International Cellular comprises about 1.6% of Triasima Portfolio Management inc.'s investment portfolio, making the stock its 17th biggest position. Triasima Portfolio Management inc. owned approximately 0.09% of Millicom International Cellular worth $12,784,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

TIGO has been the subject of a number of recent research reports. JPMorgan Chase & Co. reiterated 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. Royal Bank Of Canada set a $105.00 target price on shares of Millicom International Cellular in a research note on Tuesday, August 18th. Scotiabank lifted their price target 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. UBS Group upped their price target on shares of Millicom International Cellular from $90.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Finally, Zacks Research upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $85.68.

Millicom International Cellular Price Performance

Shares of Millicom International Cellular stock opened at $82.07 on Friday. The stock's 50-day simple moving average is $91.88 and its 200-day simple moving average is $88.90. Millicom International Cellular SA has a 52 week low of $44.88 and a 52 week high of $107.13. The company has a market capitalization of $13.87 billion, a price-to-earnings ratio of 23.29 and a beta of 0.93. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 3.07.

Millicom International Cellular Dividend Announcement

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

Millicom International Cellular 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 and businesses in Latin America.

Millicom also offers digital financial services, including mobile money and payment products through Tigo Money in selected markets. Its business-to-business operations provide connectivity, cloud, cybersecurity, data center, and digital solutions to enterprises, governments, and other organizations.

Founded in 1990, Millicom has developed a telecommunications presence across Latin America, serving markets including Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and Paraguay.

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