Millicom International Cellular (NASDAQ:TIGO) Sees Large Volume Increase – Still a Buy?

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) saw unusually-high trading volume on Monday . Approximately 160,779 shares were traded during trading, a decline of 17% from the previous session’s volume of 194,671 shares.The stock last traded at $30.91 and had previously closed at $30.38.

Analyst Upgrades and Downgrades

TIGO has been the topic of a number of research reports. Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price objective on 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. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Wednesday, January 22nd. Morgan Stanley began 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 on the stock. Finally, Scotiabank increased their target price on Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a report on Friday, February 28th. One 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 currently has an average rating of “Buy” and a consensus price target of $33.98.

Millicom International Cellular Stock Performance

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 stock has a 50 day simple moving average of $26.98 and a two-hundred day simple moving average of $26.57. The stock has a market capitalization of $5.25 billion, a P/E ratio of 32.42 and a beta of 1.23.

Millicom International Cellular Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vident Advisory LLC boosted its stake in shares of Millicom International Cellular by 24.7% during the 4th quarter. Vident Advisory LLC now owns 10,440 shares of the technology company’s stock worth $261,000 after acquiring an additional 2,071 shares during the period. Squarepoint Ops LLC bought a new position in shares of Millicom International Cellular during the 4th quarter worth approximately $1,319,000. Two Sigma Advisers LP bought a new position in shares of Millicom International Cellular during the 4th quarter worth approximately $988,000. Two Sigma Investments LP boosted its stake in shares of Millicom International Cellular by 229.3% during the 4th quarter. Two Sigma Investments LP now owns 57,113 shares of the technology company’s stock worth $1,428,000 after acquiring an additional 39,771 shares during the period. Finally, State of Wyoming bought a new position in shares of Millicom International Cellular during the 4th quarter worth approximately $49,000.

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.