Millicom International Cellular S.A. (NASDAQ:TIGO) Short Interest Update

Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 1,420,000 shares, a growth of 78.7% from the January 15th total of 794,700 shares. Based on an average daily trading volume, of 217,500 shares, the days-to-cover ratio is currently 6.5 days. Currently, 1.4% of the shares of the stock are short sold.

Millicom International Cellular Stock Performance

Millicom International Cellular stock traded down $0.21 on Monday, reaching $26.99. 438,644 shares of the stock were exchanged, compared to its average volume of 337,702. 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 firm has a fifty day moving average price of $25.78 and a two-hundred day moving average price of $26.29. The stock has a market cap of $4.64 billion, a PE ratio of 28.71 and a beta of 1.18. Millicom International Cellular has a twelve month low of $15.55 and a twelve month high of $28.75.

Millicom International Cellular Cuts Dividend

The firm also recently announced 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 dividend payout ratio (DPR) is currently 106.38%.

Analyst Ratings Changes

TIGO has been the subject of several recent research reports. 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 note 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 shares of Millicom International Cellular in a report on Wednesday, January 29th. They set an "equal weight" rating and a $32.00 price target on the stock. Finally, HSBC raised shares of Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 price objective on the stock in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Millicom International Cellular has a consensus rating of "Buy" and an average target price of $32.22.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Perpetual Ltd bought a new position in Millicom International Cellular during the fourth quarter worth $1,587,000. Blue Trust Inc. grew its position in Millicom International Cellular by 69.5% in the 4th quarter. Blue Trust Inc. now owns 3,767 shares of the technology company's stock worth $102,000 after purchasing an additional 1,544 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Millicom International Cellular during the 2nd quarter worth about $215,000. MML Investors Services LLC increased its holdings in shares of Millicom International Cellular by 5.3% during the 3rd 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 period. Finally, State Street Corp acquired a new position in shares of Millicom International Cellular during the third quarter valued at about $231,000.

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.