Victory Capital Management Inc. Purchases Shares of 759,786 Millicom International Cellular SA (NASDAQ:TIGO)

Victory Capital Management Inc. purchased a new stake in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 759,786 shares of the technology company's stock, valued at approximately $22,999,000. Victory Capital Management Inc. owned approximately 0.44% of Millicom International Cellular as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cerity Partners LLC grew its position in Millicom International Cellular by 4.7% in 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. Envestnet Asset Management Inc. grew its position in Millicom International Cellular by 26.8% in the first quarter. Envestnet Asset Management Inc. now owns 133,732 shares of the technology company's stock valued at $4,048,000 after acquiring an additional 28,284 shares during the last quarter. LB Partners LLC grew its position in Millicom International Cellular by 0.4% in 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. Bank of New York Mellon Corp bought a new position in Millicom International Cellular in the first quarter valued at about $1,130,000. Finally, Calamos Advisors LLC bought a new position in Millicom International Cellular in the first quarter valued at about $642,000.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TIGO shares. Barclays decreased their target price on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 3rd. Scotiabank cut Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 target price on the stock. in a research report on Tuesday, June 17th. UBS Group boosted their price target on Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a report on Friday, May 16th. Wall Street Zen cut Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Finally, JPMorgan Chase & Co. boosted their price target on Millicom International Cellular from $41.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Millicom International Cellular presently has a consensus rating of "Moderate Buy" and an average target price of $38.08.

Millicom International Cellular Trading Down 0.7%

Shares of NASDAQ:TIGO traded down $0.28 during midday trading on Friday, hitting $40.40. 859,175 shares of the stock were exchanged, compared to its average volume of 1,510,872. The business's 50-day moving average price is $37.64 and its 200 day moving average price is $32.13. Millicom International Cellular SA has a 12 month low of $23.61 and a 12 month high of $43.03. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of 19.42 and a beta of 1.06. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.74 and a current ratio of 0.76.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its earnings results on Thursday, May 8th. The technology company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.91 by $0.23. Millicom International Cellular had a return on equity of 10.02% and a net margin of 6.20%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The firm's revenue was down 7.6% on a year-over-year basis. Analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 7.43%. The ex-dividend date of this dividend was Tuesday, July 8th. Millicom International Cellular's payout ratio is presently 144.23%.

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.