Southeastern Asset Management Inc. TN Makes New $60.31 Million Investment in Millicom International Cellular S.A. (NASDAQ:TIGO)

Southeastern Asset Management Inc. TN bought a new position in shares of Millicom International Cellular S.A. (NASDAQ:TIGO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,411,257 shares of the technology company's stock, valued at approximately $60,306,000. Millicom International Cellular accounts for approximately 2.8% of Southeastern Asset Management Inc. TN's investment portfolio, making the stock its 14th biggest holding. Southeastern Asset Management Inc. TN owned 1.40% of Millicom International Cellular as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TIGO. Raiffeisen Bank International AG purchased a new position in Millicom International Cellular in the 4th quarter valued at about $248,000. Point72 Asset Management L.P. raised its stake in Millicom International Cellular by 422.0% in the 4th 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. Occudo Quantitative Strategies LP lifted its holdings in Millicom International Cellular by 37.4% in the 4th 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 in the last quarter. Lazard Asset Management LLC lifted its holdings in Millicom International Cellular by 65.1% in the 4th 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 in the last quarter. Finally, Park West Asset Management LLC acquired a new stake in Millicom International Cellular during the 4th quarter worth $6,165,000.

Wall Street Analysts Forecast Growth

TIGO has been the topic of several recent research reports. Barclays lowered their target price on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Scotiabank upped their target price 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. JPMorgan Chase & Co. lifted their price target on Millicom International Cellular from $33.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd. Morgan Stanley began 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 price target on the stock. Finally, UBS Group lifted their target price on Millicom International Cellular from $31.50 to $39.50 and gave the company a "buy" rating in a research report on Friday, May 16th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $36.73.

Millicom International Cellular Stock Performance

NASDAQ:TIGO traded up $0.01 during mid-day trading on Wednesday, reaching $36.75. The stock had a trading volume of 252,945 shares, compared to its average volume of 375,589. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66. Millicom International Cellular S.A. has a twelve month low of $22.59 and a twelve month high of $37.12. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 39.06 and a beta of 1.03. The business has a 50 day simple moving average of $31.64 and a 200 day simple moving average of $28.12.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.23. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The business's revenue was down 7.6% on a year-over-year basis. On average, analysts expect that Millicom International Cellular S.A. will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th were paid a dividend of $0.75 per share. The ex-dividend date was Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular's dividend payout ratio (DPR) is presently 144.23%.

Millicom International Cellular 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.