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

Millicom International Cellular S.A. (NASDAQ:TIGO) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 60,700 shares, an increase of 38.3% from the September 30th total of 43,900 shares. Based on an average trading volume of 82,800 shares, the short-interest ratio is presently 0.7 days. Approximately 0.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several research analysts have recently commented on TIGO shares. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $25.00 to $33.00 in a report on Thursday, August 15th. Hsbc Global Res cut shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Scotiabank upgraded shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $30.00 to $37.30 in a research report on Friday, September 20th. HSBC downgraded Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. started coverage on Millicom International Cellular in a report on Friday, September 6th. They issued an “overweight” rating and a $35.00 price objective for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Millicom International Cellular has a consensus rating of “Moderate Buy” and an average target price of $30.66.

Institutional Investors Weigh In On Millicom International Cellular

Several institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC raised its position in Millicom International Cellular by 217.9% in the second quarter. Signaturefd LLC now owns 1,138 shares of the technology company’s stock worth $28,000 after acquiring an additional 780 shares during the period. Blue Trust Inc. raised its holdings in Millicom International Cellular by 159.7% in the 3rd quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock worth $60,000 after purchasing an additional 1,367 shares during the period. Fifth Third Bancorp bought a new stake in Millicom International Cellular during the second quarter valued at about $67,000. Summit Securities Group LLC bought a new stake in Millicom International Cellular in the 2nd quarter valued at $98,000. Finally, SG Americas Securities LLC lifted its stake in 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 worth $160,000 after purchasing an additional 920 shares in the last quarter.

Millicom International Cellular Trading Up 0.3 %

Shares of NASDAQ:TIGO traded up $0.08 on Monday, reaching $27.80. 68,714 shares of the company traded hands, compared to its average volume of 97,583. The stock has a market capitalization of $2.83 billion, a P/E ratio of 557.60 and a beta of 1.23. The business’s 50-day simple moving average is $26.90 and its 200 day simple moving average is $24.75. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.72. Millicom International Cellular has a 52 week low of $15.25 and a 52 week high of $28.75.

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

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.