Millicom International Cellular S.A. (NASDAQ:TIGO) Short Interest Up 78.7% in January

Millicom International Cellular S.A. (NASDAQ:TIGO) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,420,000 shares, an increase of 78.7% from the January 15th total of 794,700 shares. Based on an average trading volume of 217,500 shares, the days-to-cover ratio is currently 6.5 days. Approximately 1.4% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TIGO. Morgan Stanley assumed coverage on Millicom International Cellular in a research note on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 price objective on the stock. 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 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 target price 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. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Millicom International Cellular has a consensus rating of “Buy” and an average target price of $32.22.

Institutional Investors Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently modified their holdings of TIGO. Park West Asset Management LLC bought a new stake in Millicom International Cellular during the fourth quarter worth $6,165,000. Brandes Investment Partners LP grew its holdings in Millicom International Cellular by 1.5% during the fourth 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 in the last quarter. Perpetual Ltd bought a new stake in Millicom International Cellular during the fourth quarter worth $1,587,000. Charles Schwab Investment Management Inc. grew its holdings in Millicom International Cellular by 95.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company’s stock worth $2,930,000 after buying an additional 52,638 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Millicom International Cellular by 37.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 108,680 shares of the technology company’s stock worth $2,720,000 after buying an additional 29,730 shares in the last quarter.

Millicom International Cellular Stock Down 0.8 %

Shares of NASDAQ TIGO traded down $0.21 during midday trading on Friday, hitting $26.99. 438,644 shares of the stock traded hands, compared to its average volume of 337,702. The company has a market cap of $4.64 billion, a PE ratio of 28.71 and a beta of 1.18. Millicom International Cellular has a one year low of $15.55 and a one year high of $28.75. The business has a 50 day moving average price of $25.76 and a two-hundred day moving average price of $26.25. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66.

Millicom International Cellular Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, January 3rd were issued 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 is 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.