Millicom International Cellular (NASDAQ:TIGO) Shares Down 4.9% – Should You Sell?

Millicom International Cellular SA (NASDAQ:TIGO) traded down 4.9% during mid-day trading on Friday. The stock traded as low as $85.59 and last traded at $83.6710. 54,015 shares were traded during mid-day trading, a decline of 96% from the average session volume of 1,394,041 shares. The stock had previously closed at $87.95.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. UBS Group boosted their target price on shares of Millicom International Cellular from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada set a $105.00 price target on shares of Millicom International Cellular in a research note on Tuesday, August 18th. Weiss Ratings cut Millicom International Cellular from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, August 21st. Zacks Research raised Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $105.00 target price (up from $100.00) on shares of Millicom International Cellular in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.68.

Millicom International Cellular Stock Performance

The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 3.07. The stock’s fifty day simple moving average is $93.43 and its 200 day simple moving average is $88.72. The company has a market cap of $13.94 billion, a price-to-earnings ratio of 20.81 and a beta of 0.93.

Millicom International Cellular Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Friday, January 8th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, January 8th. Millicom International Cellular’s dividend payout ratio (DPR) is currently 75.76%.

Hedge Funds Weigh In On Millicom International Cellular

A number of institutional investors have recently added to or reduced their stakes in the stock. Cullen Capital Management LLC purchased a new stake in Millicom International Cellular in the 2nd quarter valued at $71,258,000. Renaissance Technologies LLC raised its holdings in shares of Millicom International Cellular by 18.9% during the 1st quarter. Renaissance Technologies LLC now owns 549,792 shares of the technology company’s stock worth $41,201,000 after acquiring an additional 87,400 shares during the period. Sei Investments Co. raised its holdings in shares of Millicom International Cellular by 31.7% during the 1st quarter. Sei Investments Co. now owns 546,999 shares of the technology company’s stock worth $40,990,000 after acquiring an additional 131,580 shares during the period. Amundi boosted its position in shares of Millicom International Cellular by 120.8% during the 1st quarter. Amundi now owns 529,936 shares of the technology company’s stock valued at $39,713,000 after acquiring an additional 289,913 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Millicom International Cellular during the 2nd quarter valued at about $45,791,000.

About Millicom International Cellular

Millicom International Cellular SA is a telecommunications and digital services company that operates under the Tigo brand. The company provides mobile voice and data services, fixed broadband, pay television, and other connectivity solutions to consumers and businesses in Latin America.

Millicom also offers digital financial services, including mobile money and payment products through Tigo Money in selected markets. Its business-to-business operations provide connectivity, cloud, cybersecurity, data center, and digital solutions to enterprises, governments, and other organizations.

Founded in 1990, Millicom has developed a telecommunications presence across Latin America, serving markets including Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and Paraguay.