Short Interest in Millicom International Cellular S.A. (NASDAQ:TIGO) Drops By 21.4%

Millicom International Cellular S.A. (NASDAQ:TIGO) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 106,000 shares, a decline of 21.4% from the March 31st total of 134,800 shares. Based on an average daily trading volume, of 83,600 shares, the days-to-cover ratio is currently 1.3 days.

Hedge Funds Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Greytown Advisors Inc. lifted its position in Millicom International Cellular by 91.6% during the 4th quarter. Greytown Advisors Inc. now owns 45,955 shares of the technology company’s stock worth $827,000 after acquiring an additional 21,965 shares in the last quarter. Morningstar Investment Services LLC lifted its position in Millicom International Cellular by 105.6% during the 4th quarter. Morningstar Investment Services LLC now owns 246,622 shares of the technology company’s stock worth $4,474,000 after acquiring an additional 126,679 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Millicom International Cellular by 1,431.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,303 shares in the last quarter. Optiver Holding B.V. lifted its position in Millicom International Cellular by 216.0% during the 4th quarter. Optiver Holding B.V. now owns 56,615 shares of the technology company’s stock worth $1,019,000 after acquiring an additional 38,697 shares in the last quarter. Finally, Renaissance Group LLC lifted its position in Millicom International Cellular by 6.5% during the 4th quarter. Renaissance Group LLC now owns 139,565 shares of the technology company’s stock worth $2,512,000 after acquiring an additional 8,508 shares in the last quarter.

Millicom International Cellular Trading Down 0.6 %

Shares of NASDAQ:TIGO opened at $20.15 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. Millicom International Cellular has a 1 year low of $14.46 and a 1 year high of $20.81. The stock has a 50-day simple moving average of $19.01 and a 200-day simple moving average of $17.59.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Tuesday, February 27th. The technology company reported ($0.36) earnings per share (EPS) for the quarter. The firm had revenue of $1.48 billion for the quarter. Millicom International Cellular had a negative return on equity of 2.41% and a negative net margin of 1.45%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. JPMorgan Chase & Co. upgraded Millicom International Cellular from a “neutral” rating to an “overweight” rating in a report on Thursday, March 28th. New Street Research upgraded Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their price target for the company from $20.00 to $24.00 in a report on Thursday, February 29th. Morgan Stanley upgraded Millicom International Cellular from an “equal weight” rating to an “overweight” rating in a report on Friday, January 5th. HSBC lifted their price target on Millicom International Cellular from $22.50 to $24.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Finally, Scotiabank boosted their target price on Millicom International Cellular from $18.00 to $26.10 and gave the stock a “sector outperform” rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Millicom International Cellular presently has an average rating of “Moderate Buy” and a consensus price target of $24.70.

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.