Millicom International Cellular SA $TIGO Shares Sold by Renaissance Group LLC

Renaissance Group LLC lowered its stake in Millicom International Cellular SA (NASDAQ:TIGO) by 10.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 180,034 shares of the technology company’s stock after selling 21,873 shares during the period. Renaissance Group LLC’s holdings in Millicom International Cellular were worth $9,981,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Allworth Financial LP raised its holdings in shares of Millicom International Cellular by 1,129.7% in the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock worth $25,000 after acquiring an additional 418 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Millicom International Cellular by 736.2% in the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock valued at $27,000 after acquiring an additional 427 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake 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 valued at $25,000 after acquiring an additional 314 shares during the last quarter. Spire Wealth Management acquired a new stake in shares of Millicom International Cellular during the fourth quarter valued at $29,000. Finally, GAMMA Investing LLC increased its position in Millicom International Cellular by 140.8% during the 4th quarter. GAMMA Investing LLC now owns 573 shares of the technology company’s stock worth $32,000 after purchasing an additional 335 shares in the last quarter.

Insider Buying and Selling at Millicom International Cellular

In other Millicom International Cellular news, insider Salvador Escalon sold 49,288 shares of Millicom International Cellular stock in a transaction on Monday, June 1st. The shares were sold at an average price of $88.51, for a total value of $4,362,480.88. Following the transaction, the insider owned 165,344 shares in the company, valued at $14,634,597.44. This trade represents a 22.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TIGO shares. UBS Group downgraded shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 target price for the company. in a research note on Tuesday, May 26th. Zacks Research upgraded 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 research report on Wednesday, May 13th. Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Millicom International Cellular presently has an average rating of “Moderate Buy” and an average price target of $77.28.

Millicom International Cellular Stock Up 2.2%

TIGO opened at $89.25 on Thursday. Millicom International Cellular SA has a 12 month low of $35.62 and a 12 month high of $89.67. The business has a 50-day moving average of $82.75 and a two-hundred day moving average of $68.88. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. The stock has a market capitalization of $15.08 billion, a price-to-earnings ratio of 12.13 and a beta of 0.91.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. On average, research analysts expect that Millicom International Cellular SA will post 2.34 earnings per share 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. Shareholders of record on Thursday, April 8th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $3.00 dividend on an annualized basis and a yield of 3.4%. Millicom International Cellular’s dividend payout ratio (DPR) is currently 40.76%.

About Millicom International Cellular

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.