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

Millicom International Cellular S.A. (NASDAQ:TIGO) saw strong trading volume on Monday . 202,008 shares changed hands during trading, an increase of 18% from the previous session’s volume of 170,905 shares.The stock last traded at $29.20 and had previously closed at $28.53.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TIGO shares. Scotiabank boosted their target price 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, February 28th. Morgan Stanley assumed coverage on shares of 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. HSBC upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Wednesday, January 22nd. Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lowered their price target on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. One investment 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 company’s stock. According to data from MarketBeat.com, Millicom International Cellular currently has a consensus rating of “Buy” and a consensus price target of $33.98.

Millicom International Cellular Stock Performance

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 firm has a market cap of $4.96 billion, a PE ratio of 30.62 and a beta of 1.23. The stock’s 50 day moving average price is $26.51 and its 200 day moving average price is $26.45.

Millicom International Cellular Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vident Advisory LLC raised its holdings 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 valued at $261,000 after buying an additional 2,071 shares during the period. Squarepoint Ops LLC acquired a new stake in Millicom International Cellular in the fourth quarter valued at approximately $1,319,000. Two Sigma Advisers LP purchased a new stake in shares of Millicom International Cellular during the fourth quarter valued at approximately $988,000. Two Sigma Investments LP lifted its position in shares of 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 purchasing an additional 39,771 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Millicom International Cellular in the fourth quarter valued at $49,000.

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.