Short Interest in Millicom International Cellular S.A. (NASDAQ:TIGO) Drops By 21.4%

Millicom International Cellular S.A. (NASDAQ:TIGO) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 106,000 shares, a decline of 21.4% from the March 31st total of 134,800 shares. Based on an average trading volume of 83,600 shares, the short-interest ratio is currently 1.3 days.

Millicom International Cellular Trading Down 0.6 %

Shares of NASDAQ:TIGO opened at $20.15 on Monday. The stock has a market capitalization of $2.05 billion, a PE ratio of -42.87 and a beta of 1.15. Millicom International Cellular has a 1 year low of $14.46 and a 1 year high of $20.81. The firm has a fifty day moving average price of $19.01 and a 200 day moving average price of $17.60. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. HSBC boosted their price target on shares of Millicom International Cellular from $22.50 to $24.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Scotiabank upped their price objective on shares of Millicom International Cellular from $18.00 to $26.10 and gave the stock a “sector outperform” rating in a report on Wednesday, February 28th. New Street Research upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $24.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. upgraded shares of Millicom International Cellular from a “neutral” rating to an “overweight” rating in a report on Thursday, March 28th. Finally, Morgan Stanley upgraded shares of Millicom International Cellular from an “equal weight” rating to an “overweight” rating in a report on Friday, January 5th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Millicom International Cellular presently has an average rating of “Moderate Buy” and a consensus target price of $24.70.

Institutional Investors Weigh In On Millicom International Cellular

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its position in shares of Millicom International Cellular by 1,431.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,303 shares during the last quarter. Operose Advisors LLC acquired a new stake in shares of Millicom International Cellular in the third quarter valued at about $29,000. Principal Securities Inc. acquired a new stake in shares of Millicom International Cellular in the fourth quarter valued at about $87,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Millicom International Cellular by 15.9% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 15,255 shares of the technology company’s stock valued at $236,000 after purchasing an additional 2,092 shares during the last quarter. Finally, Optiver Holding B.V. acquired a new stake in shares of Millicom International Cellular in the third quarter valued at about $277,000.

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.