Short Interest in Millicom International Cellular S.A. (NASDAQ:TIGO) Grows By 213.7%

Millicom International Cellular S.A. (NASDAQ:TIGO) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 57,400 shares, an increase of 213.7% from the August 15th total of 18,300 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 115,100 shares, the short-interest ratio is currently 0.5 days.

Millicom International Cellular Stock Performance

Shares of TIGO stock traded up $0.54 during mid-day trading on Friday, hitting $27.26. The stock had a trading volume of 67,262 shares, compared to its average volume of 102,160. Millicom International Cellular has a fifty-two week low of $14.46 and a fifty-two week high of $27.43. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.72. The company’s 50-day simple moving average is $25.53 and its 200-day simple moving average is $22.98.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Friday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.05). Millicom International Cellular had a return on equity of 2.91% and a net margin of 1.83%. The firm had revenue of $1.46 billion during the quarter. During the same period in the previous year, the business earned ($0.13) EPS. As a group, sell-side analysts anticipate that Millicom International Cellular will post 2.33 earnings per share for the current year.

Hedge Funds Weigh In On Millicom International Cellular

A number of large investors have recently made changes to their positions in TIGO. Signaturefd LLC increased its holdings in shares of Millicom International Cellular by 217.9% in the 2nd quarter. Signaturefd LLC now owns 1,138 shares of the technology company’s stock valued at $28,000 after purchasing an additional 780 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of Millicom International Cellular in the 2nd quarter valued at about $67,000. Principal Securities Inc. purchased a new position in shares of Millicom International Cellular in the 4th quarter valued at about $87,000. Summit Securities Group LLC purchased a new position in shares of Millicom International Cellular in the 2nd quarter valued at about $98,000. Finally, SG Americas Securities LLC increased its holdings in shares of Millicom International Cellular by 13.1% in the 1st quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company’s stock valued at $160,000 after purchasing an additional 920 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TIGO shares. Hsbc Global Res cut shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price target for the stock from $25.00 to $33.00 in a research note on Thursday, August 15th. Scotiabank reiterated a “sector perform” rating and set a $30.00 price target on shares of Millicom International Cellular in a research note on Wednesday, August 7th. HSBC cut shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. began coverage on shares of Millicom International Cellular in a research note on Friday, September 6th. They set an “overweight” rating and a $35.00 price target for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Millicom International Cellular presently has an average rating of “Moderate Buy” and an average target price of $29.20.

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.