Short Interest in Millicom International Cellular S.A. (NASDAQ:TIGO) Declines By 46.4%

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

Millicom International Cellular Stock Down 3.2 %

Shares of NASDAQ:TIGO opened at $26.28 on Friday. The firm has a market cap of $4.52 billion, a PE ratio of 27.96 and a beta of 1.18. The company has a fifty day simple moving average of $26.23 and a 200 day simple moving average of $26.39. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. Millicom International Cellular has a 12-month low of $17.62 and a 12-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 given a $1.00 dividend. The ex-dividend date was Friday, January 3rd. Millicom International Cellular’s payout ratio is currently 106.38%.

Hedge Funds Weigh In On Millicom International Cellular

Large investors have recently modified their holdings of the stock. State of Wyoming bought a new stake in Millicom International Cellular in the fourth quarter valued at about $49,000. Blue Trust Inc. increased its holdings in Millicom International Cellular by 159.7% in the third quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock valued at $60,000 after buying an additional 1,367 shares during the last quarter. National Bank of Canada FI bought a new stake in Millicom International Cellular in the third quarter valued at about $76,000. Point72 Asset Management L.P. bought a new stake in Millicom International Cellular in the third quarter valued at about $87,000. Finally, Wells Fargo & Company MN increased its holdings in Millicom International Cellular by 72.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock valued at $122,000 after buying an additional 2,055 shares during the last quarter.

Analysts Set New Price Targets

TIGO has been the topic of several analyst reports. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Wednesday, January 22nd. 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 report on Thursday, January 16th. Morgan Stanley began coverage on shares of Millicom International Cellular in a report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price target for the company. Scotiabank boosted their price objective on shares of Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a report on Friday. Finally, 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. One investment 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.com, the company has an average rating of “Buy” and a consensus target price of $33.98.

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.