Russell Investments Group Ltd. Acquires 25,084 Shares of Millicom International Cellular SA $TIGO

Key Points

• Russell Investments Group Ltd. increased its stake in Millicom International Cellular SA by an astonishing 39,815.9%, now owning 25,147 shares worth approximately $761,000.
• Equity analysts have raised their price targets for Millicom, with Scotiabank increasing it from $37.00 to $46.10 and JPMorgan Chase from $50.00 to $55.00, contributing to a consensus rating of "Moderate Buy".
• Millicom International Cellular declared a special dividend of $1.25 per share, set to be paid on October 15th, representing a yield of 620.0%.

Russell Investments Group Ltd. boosted its position in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 39,815.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,147 shares of the technology company's stock after purchasing an additional 25,084 shares during the period. Russell Investments Group Ltd.'s holdings in Millicom International Cellular were worth $761,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. State of Wyoming purchased a new position in Millicom International Cellular in the fourth quarter valued at approximately $49,000. Wells Fargo & Company MN lifted 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 worth $122,000 after acquiring an additional 2,055 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Millicom International Cellular by 65.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock worth $190,000 after acquiring an additional 2,489 shares in the last quarter. EWA LLC purchased a new stake in shares of Millicom International Cellular during the first quarter worth $201,000. Finally, Spinnaker Trust purchased a new stake in shares of Millicom International Cellular during the first quarter worth $212,000.

Analysts Set New Price Targets

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

Millicom International Cellular Price Performance

TIGO traded down $0.61 during trading on Thursday, reaching $49.13. The stock had a trading volume of 139,294 shares, compared to its average volume of 933,396. The stock has a market cap of $8.46 billion, a PE ratio of 8.66 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 SA has a one year low of $23.61 and a one year high of $50.78. The business has a 50-day moving average of $41.84 and a 200-day moving average of $35.54.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its 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 net margin of 16.97% and a return on equity of 10.32%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.40 billion. As a group, equities research analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current fiscal year.

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.