Millicom International Cellular (NASDAQ:TIGO) Sees Unusually-High Trading Volume – Here’s Why

Shares of Millicom International Cellular S.A. (NASDAQ:TIGO) saw unusually-high trading volume on Wednesday . Approximately 1,730,730 shares were traded during trading, an increase of 463% from the previous session’s volume of 307,440 shares.The stock last traded at $31.02 and had previously closed at $29.84.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TIGO. Morgan Stanley started coverage on 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. JPMorgan Chase & Co. lifted their target price on Millicom International Cellular from $33.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, April 3rd. Barclays decreased their price objective on Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, April 3rd. 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 research note on Wednesday, January 22nd. Finally, 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. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.65.

Millicom International Cellular Stock Performance

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 company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 32.99 and a beta of 0.90. The stock has a 50 day moving average price of $28.38 and a two-hundred day moving average price of $26.95.

Millicom International Cellular Dividend Announcement

The company also recently declared an annual dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th were issued a $0.75 dividend. This represents a yield of 3.9%. The ex-dividend date was Tuesday, April 8th. Millicom International Cellular’s dividend payout ratio is 202.70%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in Millicom International Cellular in the fourth quarter valued at approximately $49,000. National Bank of Canada FI bought a new position in shares of Millicom International Cellular in the 3rd quarter worth $76,000. Blue Trust Inc. increased its holdings in Millicom International Cellular by 69.5% in the fourth quarter. Blue Trust Inc. now owns 3,767 shares of the technology company’s stock valued at $102,000 after purchasing an additional 1,544 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Millicom International Cellular by 72.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company’s stock valued at $122,000 after buying an additional 2,055 shares during the period. Finally, Principal Securities Inc. boosted its holdings in Millicom International Cellular by 22.2% during the fourth quarter. Principal Securities Inc. now owns 7,030 shares of the technology company’s stock worth $176,000 after buying an additional 1,277 shares during the last quarter.

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.