Millicom International Cellular SA (NASDAQ:TIGO) Short Interest Down 12.5% in February

Millicom International Cellular SA (NASDAQ:TIGO) saw a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 1,958,239 shares, a drop of 12.5% from the February 12th total of 2,238,168 shares. Based on an average daily volume of 1,510,759 shares, the short-interest ratio is presently 1.3 days. Approximately 1.1% of the shares of the company are short sold. Approximately 1.1% of the shares of the company are short sold. Based on an average daily volume of 1,510,759 shares, the short-interest ratio is presently 1.3 days.

Millicom International Cellular Stock Down 1.7%

TIGO opened at $72.71 on Thursday. The business has a 50 day moving average of $64.68 and a 200-day moving average of $55.26. The stock has a market capitalization of $12.51 billion, a price-to-earnings ratio of 9.26 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.81. Millicom International Cellular has a 1-year low of $26.35 and a 1-year high of $75.25.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Millicom International Cellular’s revenue was up 15.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Millicom International Cellular will post 1.91 earnings per share for the current year.

Institutional Investors Weigh In On Millicom International Cellular

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in Millicom International Cellular by 348.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company’s stock valued at $313,555,000 after acquiring an additional 5,020,602 shares in the last quarter. Perpetual Ltd grew its holdings in shares of Millicom International Cellular by 5,283.2% during the 3rd quarter. Perpetual Ltd now owns 2,731,971 shares of the technology company’s stock worth $132,610,000 after purchasing an additional 2,681,221 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Millicom International Cellular during the first quarter valued at approximately $50,664,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Millicom International Cellular by 46,519.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,263,376 shares of the technology company’s stock valued at $70,042,000 after purchasing an additional 1,260,666 shares during the period. Finally, Tredje AP fonden acquired a new position in shares of Millicom International Cellular in the fourth quarter valued at $60,459,000.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TIGO. Zacks Research cut shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Friday, March 6th. HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Friday, March 6th. Morgan Stanley reissued a “positive” rating and set a $55.00 target price on shares of Millicom International Cellular in a research report on Thursday, February 26th. Scotiabank cut shares of Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and decreased their price target for the company from $46.80 to $43.00 in a report on Wednesday, February 11th. Finally, UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and raised their price target for the company from $49.00 to $70.00 in a research report on Thursday, January 15th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $59.33.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.