Millicom International Cellular (NASDAQ:TIGO) Sees Large Volume Increase – Here’s What Happened

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) saw unusually-strong trading volume on Wednesday . Approximately 1,730,730 shares traded hands during mid-day trading, an increase of 463% from the previous session’s volume of 307,440 shares.The stock last traded at $31.02 and had previously closed at $29.84.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TIGO shares. JPMorgan Chase & Co. lifted their price objective on Millicom International Cellular from $33.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, April 3rd. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Wednesday, January 22nd. Barclays cut their price objective on Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, April 3rd. Scotiabank upped their price target 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, Morgan Stanley started coverage on shares of Millicom International Cellular in a research report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 price objective for the company. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.65.

Millicom International Cellular Stock Up 3.9 %

The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 32.99 and a beta of 0.90. The firm’s fifty day moving average price is $28.38 and its 200-day moving average price is $26.95.

Millicom International Cellular Dividend Announcement

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

Hedge Funds Weigh In On Millicom International Cellular

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Southeastern Asset Management Inc. TN bought a new stake in shares of Millicom International Cellular in the fourth quarter worth $60,306,000. Park West Asset Management LLC acquired a new stake in Millicom International Cellular during the 4th quarter worth about $6,165,000. Brandes Investment Partners LP raised its position in shares of Millicom International Cellular by 1.5% in the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock worth $114,402,000 after acquiring an additional 68,061 shares in the last quarter. Perpetual Ltd acquired a new position in shares of Millicom International Cellular in the 4th quarter valued at about $1,587,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Millicom International Cellular during the 4th quarter valued at about $1,319,000.

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.