Millicom International Cellular S.A. (NASDAQ:TIGO) Short Interest Down 46.4% in February

Millicom International Cellular S.A. (NASDAQ:TIGO) was the target of a large decrease in short interest in February. As of February 15th, there was short interest totalling 760,500 shares, a decrease of 46.4% from the January 31st total of 1,420,000 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 266,000 shares, the days-to-cover ratio is presently 2.9 days.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TIGO shares. JPMorgan Chase & Co. decreased their price objective on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Scotiabank increased their price objective on Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a report on Friday. Morgan Stanley initiated coverage on Millicom International Cellular in a report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 price objective for 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 research report on Wednesday, January 22nd. Finally, Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $33.98.

Institutional Investors Weigh In On Millicom International Cellular

A number of institutional investors and hedge funds have recently modified their holdings of TIGO. Southeastern Asset Management Inc. TN acquired a new stake in shares of Millicom International Cellular during the 4th quarter valued at $60,306,000. Park West Asset Management LLC acquired a new stake in shares of Millicom International Cellular during the 4th quarter valued at $6,165,000. Brandes Investment Partners LP lifted its position in shares of Millicom International Cellular by 1.5% during the 4th quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock valued at $114,402,000 after acquiring an additional 68,061 shares during the last quarter. Perpetual Ltd acquired a new stake in shares of Millicom International Cellular during the 4th quarter valued at $1,587,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Millicom International Cellular during the 4th quarter valued at $1,319,000.

Millicom International Cellular Stock Performance

TIGO opened at $26.28 on Friday. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 27.96 and a beta of 1.18. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. Millicom International Cellular has a 1-year low of $17.62 and a 1-year high of $28.98. The business has a 50 day moving average price of $26.23 and a two-hundred day moving average price of $26.39.

Millicom International Cellular Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, January 3rd were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 3rd. Millicom International Cellular’s dividend payout ratio (DPR) is presently 106.38%.

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.