Petrus Trust Company LTA Has $1.11 Million Position in Millicom International Cellular SA $TIGO

Key Points

• Petrus Trust Company LTA increased its stake in Millicom International Cellular SA by 98.5%, acquiring 18,114 additional shares in the first quarter, raising their total to 36,509 shares valued at approximately $1.1 million.
• The company reported a quarterly earnings per share (EPS) of $0.51, missing expectations by $0.03, with revenue of $1.37 billion, below analysts' forecasts of $1.40 billion.
• Millicom has announced a special dividend of $1.25 per share, with a yield of 620.0%, set to be paid on October 15th to shareholders of record by October 8th.

Petrus Trust Company LTA lifted its stake in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 98.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,509 shares of the technology company's stock after purchasing an additional 18,114 shares during the period. Millicom International Cellular comprises about 0.1% of Petrus Trust Company LTA's investment portfolio, making the stock its 28th biggest holding. Petrus Trust Company LTA's holdings in Millicom International Cellular were worth $1,105,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in TIGO. Wells Fargo & Company MN increased its holdings in shares of Millicom International Cellular by 72.4% in the 4th 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. Lazard Asset Management LLC grew its holdings in shares of Millicom International Cellular by 65.1% during the fourth quarter. Lazard Asset Management LLC now owns 45,789 shares of the technology company's stock valued at $1,145,000 after purchasing an additional 18,059 shares during the last quarter. Occudo Quantitative Strategies LP grew its holdings in shares of Millicom International Cellular by 37.4% during the fourth quarter. Occudo Quantitative Strategies LP now owns 10,983 shares of the technology company's stock valued at $275,000 after purchasing an additional 2,992 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Millicom International Cellular by 422.0% during the fourth quarter. Point72 Asset Management L.P. now owns 16,704 shares of the technology company's stock valued at $418,000 after purchasing an additional 13,504 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of Millicom International Cellular during the fourth quarter valued at approximately $248,000.

Millicom International Cellular Trading Up 2.4%

NASDAQ TIGO traded up $1.13 on Tuesday, hitting $47.85. 1,115,373 shares of the stock were exchanged, compared to its average volume of 1,144,604. Millicom International Cellular SA has a 52-week low of $23.61 and a 52-week high of $50.78. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.87. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 8.44 and a beta of 1.09. The company's 50-day moving average price is $42.69 and its two-hundred day moving average price is $36.18.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.40 billion. Research analysts predict that Millicom International Cellular SA will post 1.91 EPS for the current year.

Millicom International Cellular Announces Dividend

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

Analysts Set New Price Targets

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

About Millicom International Cellular

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.