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

Millicom International Cellular S.A. (NASDAQ:TIGO) was the target of a significant decline in short interest during the month of 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. Based on an average daily volume of 92,600 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.1% of the company’s stock are short sold.

Hedge Funds Weigh In On Millicom International Cellular

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its position in shares of Millicom International Cellular by 35.4% in the 2nd quarter. Renaissance Technologies LLC now owns 320,747 shares of the technology company’s stock worth $7,874,000 after acquiring an additional 83,939 shares in the last quarter. Millennium Management LLC raised its holdings in Millicom International Cellular by 138.9% in the second quarter. Millennium Management LLC now owns 270,373 shares of the technology company’s stock worth $6,638,000 after purchasing an additional 157,205 shares in the last quarter. Fifth Third Bancorp purchased a new position in Millicom International Cellular during the second quarter valued at $67,000. AQR Capital Management LLC bought a new stake in shares of Millicom International Cellular during the 2nd quarter valued at $215,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Millicom International Cellular by 5.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 104,013 shares of the technology company’s stock valued at $2,554,000 after buying an additional 5,624 shares in the last quarter.

Millicom International Cellular Stock Down 0.3 %

TIGO traded down $0.07 during trading on Friday, reaching $24.40. The stock had a trading volume of 93,432 shares, 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 business has a 50-day moving average of $26.57 and a 200-day moving average of $25.79. Millicom International Cellular has a one year low of $15.55 and a one year high of $28.75.

Millicom International Cellular (NASDAQ:TIGO) last issued 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 firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.03) earnings per share. As a group, analysts forecast that Millicom International Cellular will post 1.98 EPS for the current year.

Analyst Ratings Changes

TIGO has been the topic of a number of research analyst reports. Scotiabank raised shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $30.00 to $37.30 in a report on Friday, September 20th. JPMorgan Chase & Co. began coverage on shares of Millicom International Cellular in a research note on Friday, September 6th. They issued an “overweight” rating and a $35.00 target price on the stock. Finally, UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their price target for the company from $25.00 to $33.00 in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Millicom International Cellular currently has an average rating of “Moderate Buy” and an average target price of $30.66.

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.