Short Interest in Millicom International Cellular S.A. (NASDAQ:TIGO) Increases By 71.7%

Millicom International Cellular S.A. (NASDAQ:TIGO) was the target of a significant growth in short interest during the month of 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. Approximately 1.4% of the company’s stock are short sold. Based on an average daily volume of 567,800 shares, the days-to-cover ratio is currently 2.4 days.

Analysts Set New Price Targets

A number of brokerages have issued reports on TIGO. HSBC upgraded 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 research note on Wednesday, January 22nd. Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Scotiabank upped their target price on Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their price target on 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. Finally, Morgan Stanley started coverage on shares of Millicom International Cellular in a research note on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $33.98.

Millicom International Cellular Stock Performance

Shares of NASDAQ:TIGO opened at $30.20 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. Millicom International Cellular has a 1 year low of $19.50 and a 1 year high of $31.63. The firm has a market capitalization of $5.20 billion, a PE ratio of 32.13 and a beta of 1.23. The business’s 50 day moving average price is $27.98 and its 200-day moving average price is $26.85.

Millicom International Cellular Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th will be paid a dividend of $0.75 per share. 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%.

Institutional Investors Weigh In On Millicom International Cellular

A number of large investors have recently modified their holdings of TIGO. Vident Advisory LLC lifted its stake in shares of Millicom International Cellular by 24.7% in the fourth quarter. Vident Advisory LLC now owns 10,440 shares of the technology company’s stock worth $261,000 after buying an additional 2,071 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Millicom International Cellular in the 4th quarter worth approximately $1,319,000. Two Sigma Advisers LP purchased a new position in Millicom International Cellular in the 4th quarter worth approximately $988,000. Two Sigma Investments LP boosted its holdings in shares of Millicom International Cellular by 229.3% during the 4th quarter. Two Sigma Investments LP now owns 57,113 shares of the technology company’s stock worth $1,428,000 after purchasing an additional 39,771 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Millicom International Cellular in the fourth quarter valued at approximately $49,000.

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.