Renaissance Group LLC Decreases Stock Holdings in Millicom International Cellular S.A. (NASDAQ:TIGO)

Renaissance Group LLC trimmed its position in Millicom International Cellular S.A. (NASDAQ:TIGO) by 18.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 315,983 shares of the technology company’s stock after selling 71,426 shares during the period. Renaissance Group LLC’s holdings in Millicom International Cellular were worth $7,903,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brandes Investment Partners LP boosted its stake in Millicom International Cellular by 1.5% in the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock worth $114,402,000 after purchasing an additional 68,061 shares in the last quarter. Perpetual Ltd purchased a new stake in shares of Millicom International Cellular during the fourth quarter valued at $1,587,000. Charles Schwab Investment Management Inc. increased its position in shares of Millicom International Cellular by 95.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company’s stock valued at $2,930,000 after acquiring an additional 52,638 shares during the period. Assetmark Inc. lifted its position in Millicom International Cellular by 4,044.9% during the 4th quarter. Assetmark Inc. now owns 27,481 shares of the technology company’s stock worth $687,000 after acquiring an additional 26,818 shares during the period. Finally, Tidal Investments LLC purchased a new stake in Millicom International Cellular during the 3rd quarter valued at about $602,000.

Millicom International Cellular Stock Down 2.0 %

Shares of TIGO opened at $27.93 on Tuesday. The firm has a market cap of $4.81 billion, a P/E ratio of 29.71 and a beta of 0.90. Millicom International Cellular S.A. has a 12 month low of $19.50 and a 12 month high of $31.63. The stock’s 50 day moving average is $28.22 and its two-hundred day moving average is $26.95. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59.

Millicom International Cellular Announces Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th will be paid a $0.75 dividend. The ex-dividend date is Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular’s dividend payout ratio is currently 202.70%.

Analysts Set New Price Targets

TIGO has been the subject of a number of research reports. Hsbc Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Millicom International Cellular from $33.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, April 3rd. Scotiabank increased their price objective on shares of Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a research note on Friday, February 28th. Barclays decreased their target price on shares of Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, April 3rd. Finally, Morgan Stanley began coverage on Millicom International Cellular in a research report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price target on the stock. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.65.

Millicom International Cellular 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.