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

Millicom International Cellular S.A. (NASDAQ:TIGO) saw strong trading volume on Monday . 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.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. 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 research note on Wednesday, January 22nd. Morgan Stanley assumed 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 target on the stock. Scotiabank upped their price target on shares of Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a research note on Friday, February 28th. Hsbc Global Res raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. One equities 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. According to data from MarketBeat, Millicom International Cellular has an average rating of “Buy” and a consensus price target of $33.98.

Millicom International Cellular Trading Up 2.1 %

The firm has a market cap of $5.05 billion, a PE ratio of 31.21 and a beta of 1.23. 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 company’s 50 day moving average price is $26.67 and its two-hundred day moving average price is $26.49.

Millicom International Cellular Dividend Announcement

The business 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 $0.75 dividend. This represents a dividend yield of 3.9%. The ex-dividend date is Tuesday, April 8th. Millicom International Cellular’s payout ratio is presently 202.70%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TIGO. Southeastern Asset Management Inc. TN bought a new position in shares of Millicom International Cellular in the fourth quarter worth about $60,306,000. Park West Asset Management LLC bought a new position in shares of Millicom International Cellular in the fourth quarter worth about $6,165,000. Brandes Investment Partners LP grew its holdings in shares of Millicom International Cellular by 1.5% in the fourth quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock worth $114,402,000 after purchasing an additional 68,061 shares during the last quarter. Perpetual Ltd bought a new position in shares of Millicom International Cellular in the fourth quarter worth about $1,587,000. Finally, Squarepoint Ops LLC bought a new position in Millicom International Cellular during the 4th quarter worth about $1,319,000.

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.