Millicom International Cellular (NASDAQ:TIGO) Sees Unusually-High Trading Volume – Here’s Why

Millicom International Cellular S.A. (NASDAQ:TIGO) shares saw unusually-high trading volume on Monday . Approximately 202,008 shares changed hands during trading, an increase of 18% from the previous session’s volume of 170,905 shares.The stock last traded at $29.20 and had previously closed at $28.53.

Analyst Ratings Changes

A number of analysts have commented on TIGO shares. Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price objective 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. Morgan Stanley assumed coverage on shares of Millicom International Cellular in a report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 target price for the company. Scotiabank lifted their target price on shares of Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a research report on Friday, February 28th. Finally, HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Wednesday, January 22nd. One 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $33.98.

Millicom International Cellular Trading Up 1.0 %

The business has a 50-day moving average of $26.51 and a 200 day moving average of $26.45. The stock has a market cap of $4.96 billion, a PE ratio of 30.62 and a beta of 1.23. 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 Dividend Announcement

The company also recently declared an annual dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th will be issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular’s dividend payout ratio (DPR) is presently 202.70%.

Hedge Funds Weigh In On Millicom International Cellular

Institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in 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 worth $2,930,000 after acquiring an additional 52,638 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Millicom International Cellular during the third quarter worth $168,000. Point72 Asset Management L.P. purchased a new stake in shares of Millicom International Cellular in the third quarter valued at $87,000. Quantinno Capital Management LP acquired a new position in Millicom International Cellular in the third quarter valued at $261,000. Finally, State Street Corp acquired a new position in Millicom International Cellular in the third quarter valued at $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.