Millicom International Cellular S.A. (NASDAQ:TIGO) Sees Significant Decrease in Short Interest

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

Analyst Ratings Changes

TIGO has been the topic of several research reports. JPMorgan Chase & Co. decreased 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 report on Thursday, January 16th. Morgan Stanley initiated coverage on shares of Millicom International Cellular in a report on Wednesday, January 29th. They set an “equal weight” rating and a $32.00 price target on the stock. Hsbc Global Res raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. HSBC raised 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 report on Wednesday, January 22nd. Finally, Scotiabank lifted 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 report on Friday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Millicom International Cellular has an average rating of “Buy” and a consensus price target of $33.98.

Millicom International Cellular Trading Down 3.2 %

TIGO traded down $0.87 during trading on Friday, reaching $26.28. 1,258,323 shares of the company’s stock were exchanged, compared to its average volume of 387,347. Millicom International Cellular has a one year low of $17.62 and a one year high of $28.98. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $4.52 billion, a PE ratio of 27.96 and a beta of 1.18. The firm has a fifty day moving average price of $26.23 and a two-hundred day moving average price of $26.39.

Millicom International Cellular Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vident Advisory LLC lifted its position in shares of Millicom International Cellular by 24.7% in the 4th quarter. Vident Advisory LLC now owns 10,440 shares of the technology company’s stock worth $261,000 after purchasing an additional 2,071 shares during the period. Squarepoint Ops LLC acquired a new position in Millicom International Cellular during the fourth quarter worth $1,319,000. Two Sigma Advisers LP acquired a new position in Millicom International Cellular during the fourth quarter worth $988,000. Two Sigma Investments LP raised its holdings in Millicom International Cellular by 229.3% during the fourth quarter. Two Sigma Investments LP now owns 57,113 shares of the technology company’s stock worth $1,428,000 after buying an additional 39,771 shares during the last quarter. Finally, State of Wyoming acquired a new position in Millicom International Cellular during the fourth quarter worth $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.