Spinnaker Trust Boosts Stake in Millicom International Cellular SA $TIGO

Spinnaker Trust grew its holdings in Millicom International Cellular SA (NASDAQ:TIGO) by 385.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,000 shares of the technology company’s stock after purchasing an additional 27,000 shares during the period. Spinnaker Trust’s holdings in Millicom International Cellular were worth $2,548,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Allworth Financial LP lifted its position in Millicom International Cellular by 1,129.7% in the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after buying an additional 418 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of Millicom International Cellular in the 4th quarter valued at approximately $26,000. Blue Trust Inc. lifted its holdings in shares of Millicom International Cellular by 736.2% in the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after acquiring an additional 427 shares during the last quarter. Spire Wealth Management acquired a new position in shares of Millicom International Cellular in the 4th quarter worth approximately $29,000. Finally, GAMMA Investing LLC boosted its position in shares of 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 during the period.

Insider Transactions at Millicom International Cellular

In other 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 transaction of $4,362,480.88. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

TIGO has been the topic of a number of research analyst reports. Zacks Research raised Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. JPMorgan Chase & Co. boosted their price objective on Millicom International Cellular from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Scotiabank increased their target price on Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a research note on Wednesday, May 27th. Wall Street Zen cut Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings raised Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.28.

Millicom International Cellular Trading Up 3.4%

Shares of NASDAQ:TIGO opened at $92.26 on Tuesday. Millicom International Cellular SA has a 52 week low of $36.36 and a 52 week high of $94.73. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.33. The company has a market cap of $15.59 billion, a PE ratio of 12.54 and a beta of 0.91. The company’s 50 day moving average is $84.92 and its two-hundred day moving average is $72.19.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Equities analysts predict that Millicom International Cellular SA will post 1.78 earnings per share for the current fiscal year.

Millicom International Cellular Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 8th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, July 8th. Millicom International Cellular’s payout ratio is 40.76%.

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.