Millicom International Cellular (NASDAQ:TIGO) Trading 3.6% Higher – Here’s What Happened

Millicom International Cellular S.A. (NASDAQ:TIGO)’s stock price traded up 3.6% during trading on Tuesday . The company traded as high as $31.23 and last traded at $31.32. 480,063 shares changed hands during mid-day trading, an increase of 138% from the average session volume of 201,795 shares. The stock had previously closed at $30.24.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Scotiabank upped 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. 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. Morgan Stanley started 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 for the company. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. cut their price target on shares of 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, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $33.98.

Millicom International Cellular Stock Up 0.3 %

The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The firm’s 50-day simple moving average is $27.34 and its two-hundred day simple moving average is $26.66. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 33.31 and a beta of 1.23.

Millicom International Cellular Dividend Announcement

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

Institutional Trading of Millicom International Cellular

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vident Advisory LLC boosted its holdings 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 valued at $261,000 after purchasing an additional 2,071 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Millicom International Cellular in the 4th quarter valued at $1,319,000. Two Sigma Advisers LP acquired a new position in shares of Millicom International Cellular in the 4th quarter valued at $988,000. Two Sigma Investments LP boosted its holdings in shares of Millicom International Cellular by 229.3% in the 4th quarter. Two Sigma Investments LP now owns 57,113 shares of the technology company’s stock valued at $1,428,000 after purchasing an additional 39,771 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of Millicom International Cellular during the 4th 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.