Millicom International Cellular (NASDAQ:TIGO) Sees Large Volume Increase

Millicom International Cellular S.A. (NASDAQ:TIGO) saw strong trading volume on Tuesday . 94,420 shares traded hands during mid-day trading, a decline of 7% from the previous session’s volume of 101,956 shares.The stock last traded at $24.52 and had previously closed at $24.63.

Analyst Ratings Changes

Several research analysts recently issued reports on TIGO shares. Scotiabank lifted their target price on Millicom International Cellular from $26.80 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. initiated coverage on shares of Millicom International Cellular in a research note on Tuesday, May 28th. They issued an “overweight” rating and a $30.00 target price for the company. Hsbc Global Res downgraded shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, HSBC cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Millicom International Cellular Price Performance

The firm has a market cap of $2.50 billion, a PE ratio of 492.60 and a beta of 1.22. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.86 and a quick ratio of 0.84. The business’s fifty day moving average is $23.63 and its 200-day moving average is $20.21.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter. The company had revenue of $1.49 billion during the quarter. Millicom International Cellular had a net margin of 0.12% and a return on equity of 0.08%.

Institutional Trading of Millicom International Cellular

Several hedge funds have recently made changes to their positions in TIGO. Greytown Advisors Inc. grew its stake in Millicom International Cellular by 91.6% in the 4th quarter. Greytown Advisors Inc. now owns 45,955 shares of the technology company’s stock valued at $827,000 after buying an additional 21,965 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Millicom International Cellular during the 4th quarter valued at $87,000. LWM Advisory Services LLC lifted its holdings in Millicom International Cellular by 152.7% during the 4th quarter. LWM Advisory Services LLC now owns 29,422 shares of the technology company’s stock worth $530,000 after purchasing an additional 17,779 shares in the last quarter. LB Partners LLC bought a new position in Millicom International Cellular in the 4th quarter worth about $9,000,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Millicom International Cellular during the 3rd quarter valued at about $627,000.

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.