Hennessy Advisors Inc. Sells 17,000 Shares of Millicom International Cellular SA $TIGO

Hennessy Advisors Inc. decreased its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 260,900 shares of the technology company’s stock after selling 17,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in Millicom International Cellular were worth $14,464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Millicom International Cellular by 736.2% during the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after purchasing an additional 427 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Millicom International Cellular by 155.4% during the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock worth $25,000 after purchasing an additional 314 shares in the last quarter. Spire Wealth Management purchased a new position in shares of Millicom International Cellular during the fourth quarter worth about $29,000. Harbor Capital Advisors Inc. purchased a new stake in Millicom International Cellular in the third quarter worth approximately $26,000. Finally, Alpine Bank Wealth Management purchased a new stake in Millicom International Cellular in the third quarter worth approximately $28,000.

Millicom International Cellular Price Performance

TIGO opened at $81.38 on Monday. The stock has a fifty day simple moving average of $73.14 and a two-hundred day simple moving average of $59.94. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.81. The company has a market cap of $13.75 billion, a price-to-earnings ratio of 10.37 and a beta of 0.87. Millicom International Cellular SA has a 12-month low of $30.26 and a 12-month high of $84.44.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.18 earnings per share. Research analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be issued a $0.75 dividend. The ex-dividend date is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a yield of 3.7%. Millicom International Cellular’s dividend payout ratio is 38.22%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TIGO. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Friday, March 6th. Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Scotiabank upped their target price on Millicom International Cellular from $43.00 to $51.20 and gave the company a “sector underperform” rating in a report on Monday, March 30th. Finally, UBS Group upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $70.00 in a report on Thursday, January 15th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Millicom International Cellular has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.