Millicom International Cellular S.A. (NASDAQ:TIGO - Get Free Report) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 1,380,000 shares, a growth of 71.7% from the February 28th total of 803,900 shares. Based on an average daily volume of 567,800 shares, the short-interest ratio is presently 2.4 days. Approximately 1.4% of the company's stock are short sold.
Institutional Investors Weigh In On Millicom International Cellular
A number of hedge funds have recently made changes to their positions in TIGO. State of Wyoming acquired a new stake in Millicom International Cellular in the 4th quarter valued at approximately $49,000. National Bank of Canada FI acquired a new position in shares of Millicom International Cellular during the third quarter valued at $76,000. Point72 Asset Management L.P. bought a new stake in shares of Millicom International Cellular during the third quarter valued at about $87,000. Blue Trust Inc. raised its stake in shares of Millicom International Cellular by 69.5% during the fourth quarter. Blue Trust Inc. now owns 3,767 shares of the technology company's stock valued at $102,000 after purchasing an additional 1,544 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Millicom International Cellular by 72.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock worth $122,000 after purchasing an additional 2,055 shares during the period.
Millicom International Cellular Stock Performance
Shares of Millicom International Cellular stock traded down $0.45 during trading on Wednesday, hitting $29.60. 280,257 shares of the stock were exchanged, compared to its average volume of 713,161. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66. Millicom International Cellular has a 12 month low of $19.50 and a 12 month high of $31.63. The stock's fifty day moving average is $28.10 and its 200 day moving average is $26.89. The stock has a market cap of $5.09 billion, a PE ratio of 31.49 and a beta of 1.23.
Millicom International Cellular Dividend Announcement
The company also recently declared an annual dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular's payout ratio is currently 202.70%.
Analysts Set New Price Targets
Several brokerages have issued reports on TIGO. Scotiabank upped their price objective on Millicom International Cellular from $37.30 to $37.90 and gave the company a "sector outperform" rating in a research note on Friday, February 28th. HSBC upgraded Millicom International Cellular from a "hold" rating to a "buy" rating and set a $34.00 price objective on the stock in a research note on Wednesday, January 22nd. Hsbc Global Res raised shares of Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their price target on shares of Millicom International Cellular from $36.00 to $33.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. Finally, Morgan Stanley initiated coverage on shares of 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. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $33.98.
Check Out Our Latest Stock Report on TIGO
Millicom International Cellular Company Profile
(
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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.
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