Renaissance Group LLC Sells 71,426 Shares of Millicom International Cellular S.A. (NASDAQ:TIGO)

Renaissance Group LLC trimmed its position in shares of Millicom International Cellular S.A. (NASDAQ:TIGO - Free Report) by 18.4% during the fourth quarter, according to the company in its most recent filing with the Securities and 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 owned about 0.18% of Millicom International Cellular worth $7,903,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Brandes Investment Partners LP raised its stake in shares of Millicom International Cellular by 1.5% during the fourth quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company's stock worth $114,402,000 after acquiring an additional 68,061 shares in the last quarter. LB Partners LLC grew its holdings in shares of Millicom International Cellular by 1.4% during the 4th quarter. LB Partners LLC now owns 518,923 shares of the technology company's stock valued at $12,978,000 after purchasing an additional 7,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Millicom International Cellular by 47.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company's stock worth $3,993,000 after purchasing an additional 51,620 shares during the period. Geode Capital Management LLC lifted its stake in Millicom International Cellular by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company's stock worth $3,868,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Perpetual Ltd purchased a new stake in Millicom International Cellular during the fourth quarter valued at about $1,587,000.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Millicom International Cellular from $33.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd. Morgan Stanley started coverage on Millicom International Cellular in a research note on Wednesday, January 29th. They issued an "equal weight" rating and a $32.00 price target on the stock. Hsbc Global Res upgraded Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. HSBC upgraded shares of Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 target price on the stock in a report on Wednesday, January 22nd. Finally, Scotiabank upped their price target on shares of Millicom International Cellular from $37.30 to $37.90 and gave the company a "sector outperform" rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.65.

Millicom International Cellular Trading Up 3.5 %

Shares of TIGO traded up $0.97 during mid-day trading on Friday, hitting $28.46. 1,355,486 shares of the company's stock traded hands, compared to its average volume of 296,652. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $4.90 billion, a P/E ratio of 30.28 and a beta of 0.90. The business's 50-day moving average price is $28.28 and its 200-day moving average price is $26.93. Millicom International Cellular S.A. has a 1 year low of $19.50 and a 1 year high of $31.63.

Millicom International Cellular Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th will be issued 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 (DPR) is presently 202.70%.

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.