Millicom International Cellular S.A. (NASDAQ:TIGO) Short Interest Update

Millicom International Cellular S.A. (NASDAQ:TIGO) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 134,800 shares, an increase of 36.0% from the March 15th total of 99,100 shares. Based on an average daily trading volume, of 84,500 shares, the days-to-cover ratio is currently 1.6 days.

Millicom International Cellular Price Performance

TIGO stock opened at $20.08 on Monday. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.82 and a quick ratio of 0.80. Millicom International Cellular has a 1 year low of $14.46 and a 1 year high of $20.81. The firm has a 50-day moving average of $18.24 and a 200 day moving average of $17.28. The company has a market cap of $2.04 billion, a P/E ratio of -42.72 and a beta of 1.15.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Tuesday, February 27th. The technology company reported ($0.36) earnings per share (EPS) for the quarter. Millicom International Cellular had a negative return on equity of 2.41% and a negative net margin of 1.45%. The firm had revenue of $1.48 billion during the quarter.

Hedge Funds Weigh In On Millicom International Cellular

A number of institutional investors have recently added to or reduced their stakes in TIGO. Geode Capital Management LLC grew its position in shares of Millicom International Cellular by 0.5% in the 1st quarter. Geode Capital Management LLC now owns 131,306 shares of the technology company’s stock worth $2,484,000 after buying an additional 704 shares during the period. Tower Research Capital LLC TRC grew its holdings in Millicom International Cellular by 21.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,434 shares of the technology company’s stock worth $68,000 after purchasing an additional 789 shares during the period. Advisor Group Holdings Inc. increased its stake in shares of Millicom International Cellular by 261.5% during the first quarter. Advisor Group Holdings Inc. now owns 1,128 shares of the technology company’s stock valued at $28,000 after purchasing an additional 816 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Millicom International Cellular by 109.8% during the second quarter. BlackRock Inc. now owns 2,274 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,190 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Millicom International Cellular by 13.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 13,279 shares of the technology company’s stock worth $152,000 after purchasing an additional 1,530 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TIGO. Scotiabank increased their price target on shares of Millicom International Cellular from $18.00 to $26.10 and gave the company a “sector outperform” rating in a research report on Wednesday, February 28th. New Street Research upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their target price for the stock from $20.00 to $24.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. upgraded Millicom International Cellular from a “neutral” rating to an “overweight” rating in a report on Thursday, March 28th. HSBC lifted their price objective on Millicom International Cellular from $22.50 to $24.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Morgan Stanley upgraded Millicom International Cellular from an “equal weight” rating to an “overweight” rating in a report on Friday, January 5th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.70.

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.