Trexquant Investment LP Makes New Investment in Millicom International Cellular SA $TIGO

Key Points

• Trexquant Investment LP has acquired 35,939 shares of Millicom International Cellular SA, valued at approximately $1,088,000, indicating growing institutional interest in the company.
• Millicom recently announced a special dividend of $1.25, which will have an impressive dividend yield of 620.0%, reinforcing its commitment to returning value to shareholders.
• Analysts have given Millicom a consensus rating of "Moderate Buy", with a target price increase reflecting positive expectations for the company's performance.

Trexquant Investment LP acquired a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,939 shares of the technology company's stock, valued at approximately $1,088,000.

Several other large investors have also modified their holdings of the company. State of Wyoming bought a new stake in Millicom International Cellular in the 4th quarter valued at $49,000. Caitong International Asset Management Co. Ltd bought a new stake in Millicom International Cellular in the 1st quarter valued at $84,000. Wells Fargo & Company MN boosted its holdings in 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 purchasing an additional 2,055 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Millicom International Cellular by 65.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock valued at $190,000 after buying an additional 2,489 shares in the last quarter. Finally, EWA LLC acquired a new position in shares of Millicom International Cellular in the 1st quarter valued at $201,000.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. 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. JPMorgan Chase & Co. increased their target price on shares of Millicom International Cellular from $50.00 to $55.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Wall Street Zen upgraded shares of Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 25th. UBS Group cut shares of Millicom International Cellular from a "buy" rating to a "neutral" rating and increased their target price for the stock from $39.50 to $49.00 in a research report on Thursday. Finally, Scotiabank increased 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 research report on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Millicom International Cellular presently has an average rating of "Moderate Buy" and a consensus price target of $42.02.

Millicom International Cellular Stock Down 2.2%

TIGO traded down $1.05 during trading on Thursday, reaching $46.92. The company had a trading volume of 565,703 shares, compared to its average volume of 945,599. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.87. Millicom International Cellular SA has a 12 month low of $23.61 and a 12 month high of $50.78. The company has a market cap of $8.07 billion, a P/E ratio of 8.28 and a beta of 1.09. The business's fifty day moving average price is $42.88 and its 200 day moving average price is $36.26.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share 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 for the quarter, compared to analyst estimates of $1.40 billion. Equities analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current year.

Millicom International Cellular Announces Dividend

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

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.