Millicom International Cellular (NASDAQ:TIGO) Sees Unusually-High Trading Volume – Still a Buy?

Millicom International Cellular S.A. (NASDAQ:TIGO) shares saw unusually-strong trading volume on Thursday . Approximately 472,351 shares traded hands during mid-day trading, an increase of 66% from the previous session’s volume of 284,739 shares.The stock last traded at $27.65 and had previously closed at $27.58.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TIGO shares. JPMorgan Chase & Co. boosted their price objective on Millicom International Cellular from $33.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, April 3rd. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday, January 22nd. Barclays cut their target price on shares of Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, April 3rd. Scotiabank raised 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 note on Friday, February 28th. Finally, Morgan Stanley began coverage on Millicom International Cellular in a research note on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price objective for the company. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.65.

Millicom International Cellular Stock Up 3.5 %

The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 30.28 and a beta of 0.90. 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 business’s 50-day moving average is $28.28 and its two-hundred day moving average is $26.94.

Millicom International Cellular Announces Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th will be issued a $0.75 dividend. The ex-dividend date is Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular’s dividend payout ratio is presently 202.70%.

Hedge Funds Weigh In On Millicom International Cellular

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TIGO. State of Wyoming acquired a new stake in shares of Millicom International Cellular in the 4th quarter worth $49,000. National Bank of Canada FI acquired a new stake in Millicom International Cellular during the third quarter worth about $76,000. Point72 Asset Management L.P. purchased a new position in Millicom International Cellular during the third quarter worth about $87,000. Blue Trust Inc. boosted its holdings in Millicom International Cellular by 69.5% in the 4th 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 last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Millicom International Cellular by 72.4% in the 4th 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 period.

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.