Park West Asset Management LLC Makes New Investment in Millicom International Cellular S.A. (NASDAQ:TIGO)

Park West Asset Management LLC acquired a new position in Millicom International Cellular S.A. (NASDAQ:TIGO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 246,497 shares of the technology company's stock, valued at approximately $6,165,000. Park West Asset Management LLC owned about 0.14% of Millicom International Cellular as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Millicom International Cellular by 69.5% during the 4th quarter. Blue Trust Inc. now owns 3,767 shares of the technology company's stock valued at $102,000 after purchasing an additional 1,544 shares in the last quarter. Wells Fargo & Company MN raised its holdings 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 buying an additional 2,055 shares in the last quarter. Principal Securities Inc. lifted its position in shares of Millicom International Cellular by 22.2% in the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company's stock worth $176,000 after buying an additional 1,277 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Millicom International Cellular by 6.4% during the 4th quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company's stock worth $227,000 after acquiring an additional 545 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in shares of Millicom International Cellular in the 4th quarter valued at approximately $229,000.

Wall Street Analyst Weigh In

TIGO has been the subject of a number of recent analyst reports. Scotiabank increased their price target on Millicom International Cellular from $37.30 to $37.90 and gave the company a "sector outperform" rating in a report on Friday, February 28th. Morgan Stanley initiated coverage on shares of Millicom International Cellular in a research report on Wednesday, January 29th. They set an "equal weight" rating and a $32.00 target price for the company. JPMorgan Chase & Co. raised their price target on Millicom International Cellular from $33.00 to $41.00 and gave the company an "overweight" rating in a research report on Thursday, April 3rd. Hsbc Global Res raised Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Finally, HSBC raised Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 price target on the stock in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $35.65.

Millicom International Cellular Stock Performance

Millicom International Cellular stock traded down $0.38 during trading hours on Friday, hitting $33.47. The stock had a trading volume of 586,953 shares, compared to its average volume of 350,505. Millicom International Cellular S.A. has a fifty-two week low of $21.31 and a fifty-two week high of $34.68. The company has a market cap of $5.76 billion, a PE ratio of 35.61 and a beta of 1.03. The company has a 50-day moving average of $29.93 and a two-hundred day moving average of $27.51. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59.

Millicom International Cellular Dividend Announcement

The company also recently announced an annual dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th were given a $0.75 dividend. The ex-dividend date was Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular's dividend payout ratio (DPR) is currently 202.70%.

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.