Perpetual Ltd Purchases Shares of 63,450 Millicom International Cellular S.A. (NASDAQ:TIGO)

Perpetual Ltd acquired a new position in Millicom International Cellular S.A. (NASDAQ:TIGO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 63,450 shares of the technology company’s stock, valued at approximately $1,587,000.

Several other large investors have also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in Millicom International Cellular by 159.7% in the third quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock worth $60,000 after purchasing an additional 1,367 shares during the last quarter. National Bank of Canada FI acquired a new position in Millicom International Cellular during the 3rd quarter valued at about $76,000. Point72 Asset Management L.P. purchased a new stake in Millicom International Cellular in the third quarter valued at about $87,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Millicom International Cellular in the third quarter worth about $168,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Millicom International Cellular during the second quarter worth about $215,000.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lowered their target price on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.26.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO opened at $27.45 on Wednesday. Millicom International Cellular S.A. has a twelve month low of $15.55 and a twelve month high of $28.75. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. The company has a market cap of $4.72 billion, a PE ratio of 29.20 and a beta of 1.17. The company’s 50 day moving average is $25.34 and its 200 day moving average is $25.97.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38). The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.46 billion. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.03) EPS. On average, sell-side analysts forecast that Millicom International Cellular S.A. will post 1.98 EPS for the current year.

Millicom International Cellular Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, January 3rd were issued a $1.00 dividend. The ex-dividend date was Friday, January 3rd. Millicom International Cellular’s payout ratio is presently 106.38%.

About Millicom International Cellular

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.