Cullen Capital Management LLC Grows Stock Holdings in Millicom International Cellular SA $TIGO

Cullen Capital Management LLC grew its holdings in shares of Millicom International Cellular SA (NASDAQ:TIGO) by 2.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 656,608 shares of the technology company’s stock after purchasing an additional 13,577 shares during the period. Cullen Capital Management LLC’s holdings in Millicom International Cellular were worth $36,402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Empirical Finance LLC boosted its stake in shares of Millicom International Cellular by 88.6% in the fourth quarter. Empirical Finance LLC now owns 17,082 shares of the technology company’s stock valued at $947,000 after purchasing an additional 8,027 shares during the period. Federation des caisses Desjardins du Quebec purchased a new position in shares of Millicom International Cellular in the fourth quarter valued at $426,000. HRT Financial LP purchased a new position in shares of Millicom International Cellular in the fourth quarter valued at $6,458,000. Orion Porfolio Solutions LLC boosted its stake in shares of Millicom International Cellular by 118.3% in the fourth quarter. Orion Porfolio Solutions LLC now owns 11,889 shares of the technology company’s stock valued at $659,000 after purchasing an additional 6,443 shares during the period. Finally, Cibc World Markets Corp purchased a new position in shares of Millicom International Cellular in the fourth quarter valued at $1,629,000.

Analyst Ratings Changes

TIGO has been the subject of several analyst reports. Zacks Research upgraded shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. JPMorgan Chase & Co. upped their target price on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. 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. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 13th. Finally, 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. One investment 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 assigned a Sell rating to the stock. According to MarketBeat, Millicom International Cellular has a consensus rating of “Moderate Buy” and an average target price of $77.28.

Millicom International Cellular Trading Up 1.8%

TIGO opened at $93.77 on Friday. The stock has a market capitalization of $15.85 billion, a PE ratio of 12.74 and a beta of 0.91. The firm’s fifty day moving average price is $83.43 and its 200 day moving average price is $69.33. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.62 and a quick ratio of 0.60. Millicom International Cellular SA has a 12-month low of $35.62 and a 12-month high of $94.23.

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

Millicom International Cellular Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 8th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $3.00 annualized dividend and a yield of 3.2%. Millicom International Cellular’s dividend payout ratio is currently 40.76%.

Insider Transactions at Millicom International Cellular

In related news, insider Salvador Escalon sold 49,288 shares of the company’s 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 sale, the insider directly owned 165,344 shares of the company’s stock, valued at $14,634,597.44. This represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.52% of the stock is owned by corporate insiders.

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.