Millicom International Cellular S.A. (NASDAQ:TIGO) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in Millicom International Cellular S.A. (NASDAQ:TIGO - Free Report) by 80.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,814 shares of the technology company's stock after selling 11,574 shares during the quarter. JPMorgan Chase & Co.'s holdings in Millicom International Cellular were worth $76,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Millennium Management LLC boosted its holdings in Millicom International Cellular by 138.9% during the second quarter. Millennium Management LLC now owns 270,373 shares of the technology company's stock worth $6,638,000 after buying an additional 157,205 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Millicom International Cellular in the 2nd quarter worth approximately $215,000. MML Investors Services LLC increased its stake in Millicom International Cellular by 5.3% in the 3rd quarter. MML Investors Services LLC now owns 14,815 shares of the technology company's stock valued at $402,000 after purchasing an additional 750 shares in the last quarter. State Street Corp acquired a new position in Millicom International Cellular during the third quarter worth $231,000. Finally, Tidal Investments LLC purchased a new stake in Millicom International Cellular during the third quarter worth $602,000.

Millicom International Cellular Trading Down 0.5 %

Shares of NASDAQ:TIGO traded down $0.14 during trading on Thursday, reaching $26.73. 190,424 shares of the stock were exchanged, compared to its average volume of 329,629. Millicom International Cellular S.A. has a 12-month low of $15.55 and a 12-month high of $28.75. The firm's 50-day moving average price is $25.59 and its 200 day moving average price is $26.16. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 28.44 and a beta of 1.18.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released 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). Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company earned ($0.03) EPS. Millicom International Cellular's revenue was up .5% on a year-over-year basis. On average, sell-side analysts anticipate that Millicom International Cellular S.A. will post 1.91 earnings per share for the current fiscal year.

Millicom International Cellular Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, January 3rd were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, January 3rd. Millicom International Cellular's dividend payout ratio (DPR) is presently 106.38%.

Analyst Ratings Changes

A number of equities analysts have issued reports on TIGO shares. JPMorgan Chase & Co. cut 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 report on Thursday, January 16th. Hsbc Global Res upgraded Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. Morgan Stanley initiated coverage on Millicom International Cellular in a research report on Wednesday, January 29th. They set an "equal weight" rating and a $32.00 price objective for the company. Finally, HSBC raised shares of Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 price objective for the company in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating, five 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 "Buy" and a consensus price target of $32.22.

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.