Short Interest in Millicom International Cellular S.A. (NASDAQ:TIGO) Decreases By 58.0%

Millicom International Cellular S.A. (NASDAQ:TIGO) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 24,100 shares, a decrease of 58.0% from the August 31st total of 57,400 shares. Based on an average daily volume of 108,600 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the shares of the company are short sold.

Institutional Investors Weigh In On Millicom International Cellular

Several large investors have recently added to or reduced their stakes in TIGO. Millennium Management LLC boosted its holdings in shares of Millicom International Cellular by 138.9% in the 2nd quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock worth $6,638,000 after purchasing an additional 157,205 shares during the period. Morningstar Investment Services LLC boosted its stake in Millicom International Cellular by 105.6% during the fourth quarter. Morningstar Investment Services LLC now owns 246,622 shares of the technology company’s stock worth $4,474,000 after buying an additional 126,679 shares during the period. Renaissance Technologies LLC boosted its stake in Millicom International Cellular by 35.4% during the second quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock worth $7,874,000 after buying an additional 83,939 shares during the period. Price T Rowe Associates Inc. MD bought a new position in Millicom International Cellular during the first quarter valued at $1,216,000. Finally, Optiver Holding B.V. raised its stake in shares of Millicom International Cellular by 216.0% in the fourth quarter. Optiver Holding B.V. now owns 56,615 shares of the technology company’s stock valued at $1,019,000 after acquiring an additional 38,697 shares during the period.

Millicom International Cellular Stock Performance

NASDAQ TIGO opened at $27.76 on Friday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.66 and a quick ratio of 0.64. Millicom International Cellular has a 1-year low of $14.46 and a 1-year high of $28.75. The business has a 50 day simple moving average of $26.04 and a two-hundred day simple moving average of $23.58. The stock has a market capitalization of $2.82 billion, a PE ratio of 555.20 and a beta of 1.23.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Friday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.05). Millicom International Cellular had a net margin of 1.83% and a return on equity of 2.91%. The business had revenue of $1.46 billion during the quarter. During the same period in the previous year, the business posted ($0.13) earnings per share. On average, research analysts predict that Millicom International Cellular will post 2.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TIGO shares. JPMorgan Chase & Co. began coverage on shares of Millicom International Cellular in a report on Friday, September 6th. They set an “overweight” rating and a $35.00 price objective for the company. Hsbc Global Res lowered shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Scotiabank upgraded Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock 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 lifted their price objective for the stock from $25.00 to $33.00 in a report on Thursday, August 15th. Finally, HSBC downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.66.

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.