Millicom International Cellular S.A. (NASDAQ:TIGO) Sees Significant Drop in Short Interest

Millicom International Cellular S.A. (NASDAQ:TIGO) saw a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 760,500 shares, a drop of 46.4% from the January 31st total of 1,420,000 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily volume of 266,000 shares, the short-interest ratio is presently 2.9 days.

Wall Street Analyst Weigh In

TIGO has been the topic of several analyst reports. Morgan Stanley initiated coverage on shares of Millicom International Cellular in a report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 target price on the stock. Hsbc Global Res raised shares of 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 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 report on Thursday, January 16th. Scotiabank raised their target price on shares of Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a research report on Friday. Finally, HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research 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 given a strong buy rating to the company. According to MarketBeat.com, Millicom International Cellular currently has a consensus rating of “Buy” and an average price target of $33.98.

Millicom International Cellular Stock Performance

Shares of NASDAQ TIGO traded down $0.87 during mid-day trading on Friday, reaching $26.28. 1,258,323 shares of the company were exchanged, compared to its average volume of 387,347. The company’s 50-day simple moving average is $26.23 and its 200-day simple moving average is $26.39. 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 stock has a market capitalization of $4.52 billion, a P/E ratio of 27.96 and a beta of 1.18. Millicom International Cellular has a twelve month low of $17.62 and a twelve month high of $28.98.

Millicom International Cellular Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, January 3rd were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 3rd. Millicom International Cellular’s dividend payout ratio is presently 106.38%.

Institutional Trading of Millicom International Cellular

A number of hedge funds have recently modified their holdings of TIGO. Vident Advisory LLC raised its stake in Millicom International Cellular by 24.7% in the 4th quarter. Vident Advisory LLC now owns 10,440 shares of the technology company’s stock worth $261,000 after purchasing an additional 2,071 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Millicom International Cellular in the 4th quarter worth about $1,319,000. Two Sigma Advisers LP acquired a new stake in Millicom International Cellular in the 4th quarter worth about $988,000. Two Sigma Investments LP raised its stake in Millicom International Cellular by 229.3% in 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 in the last quarter. Finally, State of Wyoming acquired a new stake in Millicom International Cellular in the 4th quarter worth about $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.