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

Millicom International Cellular S.A. (NASDAQ:TIGO) was the recipient 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 currently 1.0 days. Currently, 0.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TIGO. Scotiabank upgraded shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and raised 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 raised their price target for the stock from $25.00 to $33.00 in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. initiated coverage on Millicom International Cellular in a report on Friday, September 6th. They issued an “overweight” rating and a $35.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.66.

Millicom International Cellular Price Performance

Shares of NASDAQ:TIGO traded down $0.07 during midday trading on Friday, hitting $24.40. The company had a trading volume of 93,432 shares, compared to its average volume of 100,358. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.59. The company has a fifty day moving average of $26.57 and a two-hundred day moving average of $25.79. Millicom International Cellular has a 12-month low of $15.55 and a 12-month high of $28.75.

Millicom International Cellular (NASDAQ:TIGO) last released its earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.38). Millicom International Cellular had a return on equity of 4.43% and a net margin of 2.70%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company posted ($0.03) earnings per share. The company’s revenue was up .5% compared to the same quarter last year. As a group, analysts anticipate that Millicom International Cellular will post 1.98 earnings per share for the current year.

Institutional Trading of Millicom International Cellular

Several institutional investors and hedge funds have recently modified their holdings of TIGO. Simplicity Wealth LLC lifted its holdings in shares of Millicom International Cellular by 3.4% in the third quarter. Simplicity Wealth LLC now owns 18,068 shares of the technology company’s stock worth $490,000 after buying an additional 600 shares in the last quarter. MML Investors Services LLC lifted its stake in Millicom International Cellular by 5.3% in the 3rd quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock worth $402,000 after purchasing an additional 750 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Millicom International Cellular by 217.9% during 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 last quarter. Blue Trust Inc. grew its holdings in 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 buying an additional 1,367 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in Millicom International Cellular by 11.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,441 shares of the technology company’s stock worth $477,000 after purchasing an additional 1,964 shares during the last quarter.

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.