Millicom International Cellular S.A. (NASDAQ:TIGO) Sees Significant Growth in Short Interest

Millicom International Cellular S.A. (NASDAQ:TIGO) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 114,200 shares, an increase of 88.1% from the October 15th total of 60,700 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 77,800 shares, the short-interest ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TIGO shares. Scotiabank raised Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $30.00 to $37.30 in a research note on Friday, September 20th. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price target for the company from $25.00 to $33.00 in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. started coverage on Millicom International Cellular in a research note on Friday, September 6th. They issued an “overweight” rating and a $35.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.66.

Millicom International Cellular Stock Up 0.1 %

NASDAQ TIGO traded up $0.03 during trading hours on Wednesday, hitting $26.38. 8,853 shares of the company’s stock were exchanged, compared to its average volume of 97,079. The stock has a 50-day simple moving average of $27.17 and a 200 day simple moving average of $25.31. Millicom International Cellular has a 1-year low of $15.55 and a 1-year high of $28.75. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.38). Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business earned ($0.03) EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities research analysts expect that Millicom International Cellular will post 2.33 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD bought a new position in Millicom International Cellular in the first quarter worth approximately $1,216,000. SG Americas Securities LLC boosted its holdings in Millicom International Cellular by 13.1% in the first quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company’s stock worth $160,000 after acquiring an additional 920 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Millicom International Cellular by 35.4% in the second quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock worth $7,874,000 after acquiring an additional 83,939 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Millicom International Cellular by 138.9% in the second quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock valued at $6,638,000 after purchasing an additional 157,205 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in shares of Millicom International Cellular in the second quarter valued at approximately $67,000.

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.