Millicom International Cellular S.A. (NASDAQ:TIGO) Sees Large Decline in Short Interest

Millicom International Cellular S.A. (NASDAQ:TIGO) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 90,400 shares, a decline of 28.7% from the November 15th total of 126,800 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 92,600 shares, the short-interest ratio is currently 1.0 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Tidal Investments LLC acquired a new stake in Millicom International Cellular during the third quarter worth about $602,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Millicom International Cellular in the 3rd quarter valued at approximately $508,000. MML Investors Services LLC increased its holdings in shares of Millicom International Cellular by 5.3% during the 3rd quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock worth $402,000 after buying an additional 750 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Millicom International Cellular during the 3rd quarter valued at approximately $427,000. Finally, National Bank of Canada FI acquired a new position in Millicom International Cellular in the third quarter valued at approximately $76,000.

Analysts Set New Price Targets

Several research analysts recently weighed in on TIGO shares. Scotiabank raised shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $30.00 to $37.30 in a research note on Friday, September 20th. JPMorgan Chase & Co. began coverage on Millicom International Cellular in a report on Friday, September 6th. They set an “overweight” rating and a $35.00 target price for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Millicom International Cellular has an average rating of “Moderate Buy” and a consensus price target of $30.66.

Millicom International Cellular Price Performance

NASDAQ TIGO traded down $0.07 during trading hours on Friday, hitting $24.40. 93,432 shares of the company’s stock traded hands, compared to its average volume of 100,358. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. The firm’s 50-day moving average is $26.52 and its 200-day moving average is $25.80. 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 posted its quarterly 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 company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.46 billion. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. Millicom International Cellular’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) EPS. As a group, research analysts anticipate that Millicom International Cellular will post 1.98 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.