Brand Asset Management Group Inc. Purchases Shares of 6,463 Millicom International Cellular SA $TIGO

Brand Asset Management Group Inc. purchased a new stake in Millicom International Cellular SA (NASDAQ:TIGO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 6,463 shares of the technology company’s stock, valued at approximately $358,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TIGO. Royal Bank of Canada grew its position in shares of Millicom International Cellular by 48.1% in the 1st quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock valued at $1,398,000 after acquiring an additional 14,990 shares during the period. AQR Capital Management LLC increased its stake in shares of Millicom International Cellular by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock worth $290,000 after purchasing an additional 453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Millicom International Cellular during the 1st quarter worth about $2,188,000. Goldman Sachs Group Inc. acquired a new position in shares of Millicom International Cellular during the 1st quarter worth about $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Millicom International Cellular in the 1st quarter valued at about $8,504,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TIGO shares. 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. Scotiabank increased their target price on shares of Millicom International Cellular from $51.20 to $52.40 and gave the stock a “sector underperform” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. upped their price target on shares of Millicom International Cellular from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Morgan Stanley reaffirmed a “positive” rating and set a $55.00 price target on shares of Millicom International Cellular in a report on Thursday, February 26th. Finally, Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.28.

Millicom International Cellular Price Performance

Millicom International Cellular stock opened at $87.36 on Wednesday. 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 SA has a 52 week low of $35.62 and a 52 week high of $89.49. The stock has a market capitalization of $14.76 billion, a P/E ratio of 11.87 and a beta of 0.91. The stock has a fifty day moving average of $82.43 and a 200-day moving average of $68.62.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. On average, sell-side analysts expect that Millicom International Cellular SA will post 2.34 earnings per share for the current fiscal year.

Millicom International Cellular Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 8th will be paid 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 3.4%. Millicom International Cellular’s dividend payout ratio is presently 40.76%.

Insider Buying and Selling

In related news, insider Salvador Escalon sold 49,288 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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.