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

Millicom International Cellular S.A. (NASDAQ:TIGO) was the target of a large growth in short interest in the month of 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. Based on an average daily volume of 567,800 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.4% of the company’s shares are short sold.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO opened at $30.20 on Friday. The firm has a market capitalization of $5.20 billion, a P/E ratio of 32.13 and a beta of 1.23. The firm’s 50-day moving average price is $27.98 and its 200-day moving average price is $26.84. 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 1-year low of $19.50 and a 1-year high of $31.63.

Millicom International Cellular Announces Dividend

The company also recently declared 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. 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 currently 202.70%.

Wall Street Analysts Forecast Growth

TIGO has been the topic of a number of recent analyst reports. HSBC upgraded shares of 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 price target 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. Morgan Stanley assumed coverage on 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. JPMorgan Chase & Co. dropped 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. Finally, Hsbc Global Res raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Millicom International Cellular currently has an average rating of “Buy” and an average target price of $33.98.

Institutional Investors Weigh In On Millicom International Cellular

A number of hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Millicom International Cellular by 95.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company’s stock worth $2,930,000 after purchasing an additional 52,638 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Millicom International Cellular during the third quarter worth $168,000. Point72 Asset Management L.P. bought a new position in shares of Millicom International Cellular in the third quarter valued at $87,000. Quantinno Capital Management LP acquired a new position in shares of Millicom International Cellular during the third quarter valued at about $261,000. Finally, State Street Corp bought a new stake in shares of Millicom International Cellular during the third quarter worth about $231,000.

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.