Millicom International Cellular S.A. (NASDAQ:TIGO) Sees Significant Drop in Short Interest

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

Institutional Trading of Millicom International Cellular

Several hedge funds have recently bought and sold shares of TIGO. Millennium Management LLC raised its stake in shares of 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 buying an additional 157,205 shares during the period. Renaissance Technologies LLC increased its holdings in 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. Charles Schwab Investment Management Inc. raised its stake in Millicom International Cellular by 95.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,047 shares of the technology company’s stock worth $2,930,000 after acquiring an additional 52,638 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Millicom International Cellular during the second quarter valued at approximately $884,000. Finally, Tidal Investments LLC bought a new position in shares of Millicom International Cellular in the third quarter worth approximately $602,000.

Analysts Set New Price Targets

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

Millicom International Cellular Stock Down 0.3 %

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. Millicom International Cellular has a 52 week low of $15.55 and a 52 week high of $28.75. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.64 and a current ratio of 0.66. The business’s fifty day moving average price is $26.57 and its two-hundred day moving average price is $25.79.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.38). The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.46 billion. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. During the same period in the previous year, the firm earned ($0.03) EPS. The company’s revenue was up .5% on a year-over-year basis. On average, research analysts expect that Millicom International Cellular will post 1.98 earnings per share for the current fiscal year.

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.