Short Interest in Millicom International Cellular S.A. (NASDAQ:TIGO) Drops By 15.2%

Millicom International Cellular S.A. (NASDAQ:TIGOGet Rating) saw a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 380,600 shares, a drop of 15.2% from the April 15th total of 448,800 shares. Based on an average trading volume of 120,600 shares, the short-interest ratio is currently 3.2 days. Currently, 0.4% of the shares of the company are sold short.

A number of research analysts have recently weighed in on the company. Scotiabank raised Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and cut their price objective for the company from $35.90 to $32.90 in a report on Tuesday, March 8th. JPMorgan Chase & Co. upgraded Millicom International Cellular from a “neutral” rating to an “overweight” rating in a research report on Thursday, March 31st.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. lifted its holdings in shares of Millicom International Cellular by 261.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,128 shares of the technology company’s stock valued at $28,000 after buying an additional 816 shares during the period. JPMorgan Chase & Co. lifted its holdings in Millicom International Cellular by 49.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,169 shares of the technology company’s stock valued at $33,000 after acquiring an additional 387 shares during the period. AlphaMark Advisors LLC boosted its position in Millicom International Cellular by 108.9% in the 1st quarter. AlphaMark Advisors LLC now owns 1,274 shares of the technology company’s stock worth $32,000 after purchasing an additional 664 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Millicom International Cellular during the 1st quarter worth approximately $50,000. Finally, UBS Group AG increased its holdings in shares of Millicom International Cellular by 539.7% during the 1st quarter. UBS Group AG now owns 2,482 shares of the technology company’s stock valued at $62,000 after purchasing an additional 2,094 shares in the last quarter. 10.83% of the stock is currently owned by institutional investors.

Shares of Millicom International Cellular stock opened at $23.50 on Wednesday. The stock has a market cap of $2.39 billion, a PE ratio of 4.12 and a beta of 0.83. The firm has a fifty day moving average price of $24.33 and a 200 day moving average price of $27.29. Millicom International Cellular has a 1 year low of $19.75 and a 1 year high of $46.18. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.54 and a quick ratio of 0.52.

About Millicom International Cellular (Get Rating)

Millicom International Cellular SA provides cable and mobile services in Latin America and Africa. The company offers mobile services, including mobile data and voice; short message service; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.

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