Millicom International Cellular (NASDAQ:TIGO) Sees Strong Trading Volume – What’s Next?

Millicom International Cellular S.A. (NASDAQ:TIGO) saw unusually-high trading volume on Monday . Approximately 261,475 shares changed hands during trading, an increase of 19% from the previous session’s volume of 220,417 shares.The stock last traded at $29.69 and had previously closed at $29.94.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TIGO shares. Morgan Stanley began coverage on shares of Millicom International Cellular in a research note on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 price objective for the company. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report 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. JPMorgan Chase & Co. reduced their target price on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Scotiabank raised 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. 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’s stock. Based on data from MarketBeat, Millicom International Cellular has a consensus rating of “Buy” and an average price target of $33.98.

Millicom International Cellular Trading Down 1.1 %

The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66. The stock has a market cap of $5.10 billion, a P/E ratio of 31.46 and a beta of 1.23. The stock has a 50-day moving average price of $27.58 and a 200-day moving average price of $26.73.

Millicom International Cellular Announces Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th will be paid a $0.75 dividend. The ex-dividend date is Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular’s dividend payout ratio is presently 202.70%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TIGO. Jones Financial Companies Lllp lifted its stake in Millicom International Cellular by 6.4% during the fourth quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company’s stock worth $227,000 after purchasing an additional 545 shares during the last quarter. MML Investors Services LLC lifted its position in Millicom International Cellular by 5.3% in the 3rd quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock worth $402,000 after buying an additional 750 shares during the last quarter. Principal Securities Inc. boosted its stake in Millicom International Cellular by 22.2% in the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock worth $176,000 after buying an additional 1,277 shares in the last quarter. Geode Capital Management LLC grew its position in Millicom International Cellular by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 154,661 shares of the technology company’s stock valued at $3,868,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Millicom International Cellular by 69.5% during the fourth quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock worth $102,000 after acquiring an additional 1,544 shares in the last quarter.

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.