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

Millicom International Cellular S.A. (NASDAQ:TIGO) was the target of a large increase in short interest in 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. Based on an average daily trading volume, of 77,800 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.1% of the company’s stock are short sold.

Millicom International Cellular Stock Performance

Shares of TIGO stock 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’s 50-day moving average is $27.17 and its 200-day moving average is $25.31. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. Millicom International Cellular has a 52 week low of $15.55 and a 52 week high of $28.75.

Millicom International Cellular (NASDAQ:TIGO) last announced 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). The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.46 billion. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. Millicom International Cellular’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) EPS. Research analysts anticipate that Millicom International Cellular will post 2.33 EPS for the current year.

Analyst Ratings Changes

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

Institutional Trading of Millicom International Cellular

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TIGO. Signaturefd LLC boosted its stake in 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 during the period. Blue Trust Inc. lifted its position in shares of Millicom International Cellular by 159.7% during the 3rd quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock valued at $60,000 after acquiring an additional 1,367 shares during the period. Fifth Third Bancorp bought a new stake in shares of Millicom International Cellular during the 2nd quarter valued at $67,000. Summit Securities Group LLC bought a new stake in shares of Millicom International Cellular during the 2nd quarter worth $98,000. Finally, SG Americas Securities LLC lifted its position in shares of Millicom International Cellular by 13.1% during the 1st quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company’s stock worth $160,000 after buying an additional 920 shares during the last quarter.

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.