Millicom International Cellular S.A. (NASDAQ:TIGO) Sees Significant Increase in Short Interest

Millicom International Cellular S.A. (NASDAQ:TIGO) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 1,380,000 shares, a growth of 71.7% from the February 28th total of 803,900 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average daily trading volume, of 567,800 shares, the days-to-cover ratio is currently 2.4 days.

Millicom International Cellular Trading Down 0.6 %

Shares of NASDAQ:TIGO opened at $30.20 on Monday. The company has a market cap of $5.20 billion, a PE ratio of 32.13 and a beta of 1.23. The company’s 50 day moving average is $27.98 and its two-hundred day moving average is $26.85. Millicom International Cellular has a 52 week low of $19.50 and a 52 week high of $31.75. 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 Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. HSBC upgraded 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. Hsbc Global Res upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Scotiabank increased their target price 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, February 28th. Morgan Stanley assumed 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 target for the company. Finally, JPMorgan Chase & Co. reduced their price objective on 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 investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $33.98.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TIGO. Brandes Investment Partners LP lifted its stake in Millicom International Cellular by 1.5% during 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. Southeastern Asset Management Inc. TN acquired a new position in shares of Millicom International Cellular in the 4th quarter valued at $60,306,000. LB Partners LLC grew its position in shares of Millicom International Cellular by 1.4% in the 4th quarter. LB Partners LLC now owns 518,923 shares of the technology company’s stock valued at $12,978,000 after buying an additional 7,000 shares during the last quarter. Park West Asset Management LLC acquired a new stake in Millicom International Cellular during the 4th quarter worth $6,165,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Millicom International Cellular by 47.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company’s stock valued at $3,993,000 after acquiring an additional 51,620 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.