Short Interest in Millicom International Cellular S.A. (NASDAQ:TIGO) Increases By 29.0%

Millicom International Cellular S.A. (NASDAQ:TIGO) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 1,780,000 shares, a growth of 29.0% from the March 15th total of 1,380,000 shares. Based on an average trading volume of 778,000 shares, the short-interest ratio is presently 2.3 days. Currently, 1.8% of the company’s stock are sold short.

Analyst Ratings Changes

A number of research firms have weighed in on TIGO. Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price target on Millicom International Cellular from $33.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, April 3rd. Scotiabank increased their price objective 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, February 28th. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Wednesday, January 22nd. Finally, Morgan Stanley started 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. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Millicom International Cellular presently has an average rating of “Moderate Buy” and a consensus target price of $35.65.

Millicom International Cellular Trading Down 0.7 %

Shares of NASDAQ:TIGO opened at $32.24 on Monday. The company has a market capitalization of $5.55 billion, a P/E ratio of 34.21 and a beta of 0.90. 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 business’s 50 day simple moving average is $28.67 and its 200 day simple moving average is $27.06. Millicom International Cellular has a 1 year low of $19.95 and a 1 year high of $32.48.

Millicom International Cellular Announces Dividend

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

Hedge Funds Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently made changes to their positions in TIGO. Vest Financial LLC acquired a new position in Millicom International Cellular during the first quarter valued at approximately $399,000. Vident Advisory LLC lifted its position in shares of Millicom International Cellular by 24.7% during the 4th 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 during the last quarter. Squarepoint Ops LLC acquired a new stake in Millicom International Cellular in the fourth quarter valued at about $1,319,000. Two Sigma Advisers LP bought a new position in Millicom International Cellular in the fourth quarter valued at about $988,000. Finally, Two Sigma Investments LP lifted its holdings in shares of Millicom International Cellular by 229.3% in the fourth quarter. Two Sigma Investments LP now owns 57,113 shares of the technology company’s stock worth $1,428,000 after acquiring an additional 39,771 shares during the last quarter.

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.