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

Millicom International Cellular S.A. (NASDAQ:TIGO) shares saw an uptick in trading volume on Monday . 261,475 shares changed hands during mid-day trading, an increase of 19% from the previous session’s volume of 220,417 shares.The stock last traded at $29.69 and had previously closed at $29.94.

Analyst Ratings Changes

A number of analysts have recently issued reports on TIGO shares. Morgan Stanley began coverage on Millicom International Cellular in a report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 target price for the company. Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. HSBC upgraded shares of 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, 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, February 28th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $33.98.

Millicom International Cellular Price Performance

The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 31.46 and a beta of 1.23. The company’s 50-day simple moving average is $27.80 and its 200 day simple moving average is $26.77. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59.

Millicom International Cellular Dividend Announcement

The business also recently announced 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 of this dividend is Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular’s dividend payout ratio (DPR) is currently 202.70%.

Hedge Funds Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TIGO. Brandes Investment Partners LP boosted its holdings 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 worth $114,402,000 after buying an additional 68,061 shares during the period. Southeastern Asset Management Inc. TN bought a new stake in Millicom International Cellular during the 4th quarter valued at approximately $60,306,000. LB Partners LLC increased its position in Millicom International Cellular by 1.4% in the 4th quarter. LB Partners LLC now owns 518,923 shares of the technology company’s stock worth $12,978,000 after buying an additional 7,000 shares during the period. Park West Asset Management LLC acquired a new position in shares of Millicom International Cellular during the fourth quarter worth approximately $6,165,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Millicom International Cellular by 47.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company’s stock valued at $3,993,000 after acquiring an additional 51,620 shares during the period.

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.