Short Interest in Millicom International Cellular S.A. (NASDAQ:TIGO) Increases By 38.3%

Millicom International Cellular S.A. (NASDAQ:TIGO) was the recipient of a significant 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 daily 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.

Analyst Ratings Changes

A number of equities research analysts recently commented 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 research report on Friday, September 20th. JPMorgan Chase & Co. started coverage on Millicom International Cellular in a report on Friday, September 6th. They set an “overweight” rating and a $35.00 price objective on the stock. Hsbc Global Res lowered shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $25.00 to $33.00 in a research report on Thursday, August 15th. Finally, HSBC lowered shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.66.

Institutional Investors Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently modified their holdings of TIGO. LB Partners LLC grew its position in Millicom International Cellular by 2.0% in the 3rd quarter. LB Partners LLC now owns 511,923 shares of the technology company’s stock valued at $13,883,000 after acquiring an additional 9,923 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Millicom International Cellular by 159.7% during the third quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock valued at $60,000 after purchasing an additional 1,367 shares during the period. Simplicity Wealth LLC boosted its stake in shares of Millicom International Cellular by 3.4% during the third quarter. Simplicity Wealth LLC now owns 18,068 shares of the technology company’s stock valued at $490,000 after purchasing an additional 600 shares during the period. Silver Lake Advisory LLC bought a new position in shares of Millicom International Cellular in the second quarter worth about $260,000. Finally, Millennium Management LLC increased its stake in 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 buying an additional 157,205 shares during the period.

Millicom International Cellular Trading Up 0.3 %

TIGO stock traded up $0.07 during mid-day trading on Tuesday, reaching $27.87. 81,908 shares of the stock traded hands, compared to its average volume of 97,510. The business has a 50-day moving average price of $26.95 and a two-hundred day moving average price of $24.80. The stock has a market capitalization of $2.84 billion, a PE ratio of 557.40 and a beta of 1.23. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.64 and a current ratio of 0.66. Millicom International Cellular has a one year low of $15.25 and a one year high of $28.75.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Friday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.05). The firm had revenue of $1.46 billion for the quarter. Millicom International Cellular had a net margin of 1.83% and a return on equity of 2.91%. During the same quarter last year, the firm earned ($0.13) EPS. Equities research analysts expect that Millicom International Cellular will post 2.33 EPS for the current 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.