8,850 Shares in Millicom International Cellular SA $TIGO Purchased by Truvestments Capital LLC

Truvestments Capital LLC bought a new position in Millicom International Cellular SA (NASDAQ:TIGO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,850 shares of the technology company’s stock, valued at approximately $491,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Millicom International Cellular by 348.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock worth $313,555,000 after buying an additional 5,020,602 shares during the period. William Blair Investment Management LLC grew its position in Millicom International Cellular by 15.0% in the 3rd quarter. William Blair Investment Management LLC now owns 128,350 shares of the technology company’s stock valued at $6,230,000 after purchasing an additional 16,695 shares during the period. Assetmark Inc. grew its position in Millicom International Cellular by 31.1% in the 4th quarter. Assetmark Inc. now owns 85,059 shares of the technology company’s stock valued at $4,716,000 after purchasing an additional 20,194 shares during the period. Crossmark Global Holdings Inc. grew its position in Millicom International Cellular by 4.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 413,983 shares of the technology company’s stock valued at $22,951,000 after purchasing an additional 16,126 shares during the period. Finally, Mirabella Financial Services LLP acquired a new stake in Millicom International Cellular in the 3rd quarter valued at $1,539,000.

Insider Buying and Selling at Millicom International Cellular

In other news, insider Salvador Escalon sold 49,288 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $88.51, for a total transaction of $4,362,480.88. Following the sale, the insider directly owned 165,344 shares in the company, valued at $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TIGO. Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Morgan Stanley reaffirmed a “positive” rating and set a $55.00 price objective on shares of Millicom International Cellular in a report on Thursday, February 26th. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings raised shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. Finally, HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Millicom International Cellular presently has a consensus rating of “Moderate Buy” and an average target price of $77.28.

Millicom International Cellular Trading Down 4.6%

Shares of Millicom International Cellular stock opened at $89.45 on Tuesday. Millicom International Cellular SA has a 52-week low of $35.62 and a 52-week high of $94.73. The stock’s 50-day simple moving average is $83.63 and its 200 day simple moving average is $69.69. The stock has a market capitalization of $15.12 billion, a P/E ratio of 12.15 and a beta of 0.91. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%.The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. As a group, research analysts anticipate that Millicom International Cellular SA will post 1.78 EPS for the current year.

Millicom International Cellular Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, April 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.4%. Millicom International Cellular’s dividend payout ratio is currently 40.76%.

Millicom International Cellular 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.