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) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 63,450 shares of the technology company’s stock, valued at approximately $1,587,000.

Several other institutional investors have also recently made changes to their positions in TIGO. TT International Asset Management LTD purchased a new stake in Millicom International Cellular during the 4th quarter valued at approximately $252,000. CWA Asset Management Group LLC purchased a new stake in shares of Millicom International Cellular during the 4th quarter valued at about $229,000. Tidal Investments LLC bought a new stake in Millicom International Cellular in the third quarter worth $602,000. Y Intercept Hong Kong Ltd purchased a new stake in Millicom International Cellular in the 3rd quarter worth about $508,000. Finally, MML Investors Services LLC lifted its stake in Millicom International Cellular by 5.3% in the third quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock worth $402,000 after purchasing an additional 750 shares during the last quarter.

Millicom International Cellular Price Performance

Millicom International Cellular stock opened at $27.45 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 29.20 and a beta of 1.17. The firm has a 50-day moving average of $25.34 and a two-hundred day moving average of $25.97. Millicom International Cellular S.A. has a 1 year low of $15.55 and a 1 year high of $28.75.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.38). The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate 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 for the quarter was up .5% compared to the same quarter last year. During the same period last year, the company earned ($0.03) EPS. On average, research analysts forecast that Millicom International Cellular S.A. will post 1.98 earnings per share for the current year.

Millicom International Cellular Cuts Dividend

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

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their price target on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Millicom International Cellular currently has an average rating of “Moderate Buy” and an average price target of $30.26.

Millicom International Cellular Company Profile

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.