PDT Partners LLC Acquires Shares of 100,502 Millicom International Cellular SA $TIGO

Key Points

• PDT Partners LLC has acquired a new investment of approximately $3.04 million in Millicom International Cellular, purchasing 100,502 shares during the first quarter.
• Millicom International Cellular announced a special dividend of $1.25 per share, with a yield of 620.0%, set to be paid on October 15th.
• Despite a recent earnings report showing $0.51 EPS, which was below analyst expectations, several research firms have upgraded their ratings for Millicom, with price targets reaching up to $55.00.

PDT Partners LLC purchased a new stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 100,502 shares of the technology company's stock, valued at approximately $3,042,000. PDT Partners LLC owned about 0.06% of Millicom International Cellular at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Cerity Partners LLC grew its position in 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 bought a new position in Millicom International Cellular during the fourth quarter valued at approximately $49,000. LB Partners LLC grew its position in 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. Wells Fargo & Company MN grew its position in 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. Finally, Vident Advisory LLC grew its position in Millicom International Cellular by 24.7% during the fourth quarter. Vident Advisory LLC now owns 10,440 shares of the technology company's stock valued at $261,000 after acquiring an additional 2,071 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Scotiabank raised their target price on shares of Millicom International Cellular from $37.00 to $46.10 and gave the stock a "sector perform" rating in a report on Tuesday, August 19th. 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. Zacks Research upgraded shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. JPMorgan Chase & Co. raised their target price on shares of Millicom International Cellular from $50.00 to $55.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, UBS Group raised their target price on shares of Millicom International Cellular from $31.50 to $39.50 and gave the stock 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 MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $40.43.

Millicom International Cellular Trading Down 1.6%

TIGO stock traded down $0.76 on Friday, reaching $47.15. The company's stock had a trading volume of 1,266,842 shares, compared to its average volume of 1,201,297. The business has a fifty day simple moving average of $42.30 and a two-hundred day simple moving average of $35.83. Millicom International Cellular SA has a 12-month low of $23.61 and a 12-month high of $50.78. The firm has a market cap of $8.11 billion, a PE ratio of 8.32 and a beta of 1.09. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.87 and a current ratio of 0.89.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 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 business 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 year.

Millicom International Cellular Dividend Announcement

The firm 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 of this dividend is Wednesday, October 8th. This represents a yield of 620.0%. Millicom International Cellular's dividend payout ratio (DPR) is presently 52.91%.

Millicom International Cellular Company 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.