Millicom International Cellular S.A. (NASDAQ:TIGO) Short Interest Up 71.7% in March

Millicom International Cellular S.A. (NASDAQ:TIGO) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,380,000 shares, an increase of 71.7% from the February 28th total of 803,900 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily volume of 567,800 shares, the short-interest ratio is presently 2.4 days.

Analysts Set New Price Targets

Several analysts recently commented on TIGO shares. Hsbc Global Res upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Morgan Stanley initiated coverage on 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. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Wednesday, January 22nd. Scotiabank upped their target price on Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. dropped their price target 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 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $33.98.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State of Wyoming purchased a new position in Millicom International Cellular during the fourth quarter worth approximately $49,000. National Bank of Canada FI acquired a new stake in shares of Millicom International Cellular in the 3rd quarter worth $76,000. Point72 Asset Management L.P. purchased a new position in shares of Millicom International Cellular during the 3rd quarter worth $87,000. Blue Trust Inc. grew its holdings in shares of Millicom International Cellular by 69.5% in the fourth quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock valued at $102,000 after purchasing an additional 1,544 shares during the period. Finally, Wells Fargo & Company MN increased its position in Millicom International Cellular by 72.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock worth $122,000 after purchasing an additional 2,055 shares during the last quarter.

Millicom International Cellular Stock Down 0.6 %

NASDAQ TIGO opened at $30.20 on Monday. The business has a fifty day moving average price of $27.98 and a 200 day moving average price of $26.85. 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 company has a market cap of $5.20 billion, a P/E ratio of 32.13 and a beta of 1.23. Millicom International Cellular has a one year low of $19.50 and a one year high of $31.75.

Millicom International Cellular Announces Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th will be paid a dividend of $0.75 per share. 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%.

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.