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

Millicom International Cellular S.A. (NASDAQ:TIGO) was the target of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 18,300 shares, a drop of 91.7% from the July 31st total of 220,400 shares. Based on an average daily volume of 126,200 shares, the short-interest ratio is currently 0.1 days.

Millicom International Cellular Trading Down 1.0 %

TIGO traded down $0.26 during trading on Thursday, hitting $26.08. 122,830 shares of the stock were exchanged, compared to its average volume of 104,200. Millicom International Cellular has a 1 year low of $14.46 and a 1 year high of $26.87. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 521.60 and a beta of 1.22. The firm has a 50 day simple moving average of $24.99 and a 200 day simple moving average of $22.17. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.84 and a current ratio of 0.86.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Friday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.05). Millicom International Cellular had a net margin of 0.12% and a return on equity of 0.08%. The firm had revenue of $1.46 billion during the quarter. During the same period in the prior year, the firm earned ($0.13) EPS.

Analyst Upgrades and Downgrades

Several research analysts have commented on TIGO shares. HSBC lowered shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.00 to $33.00 in a report on Thursday, August 15th. Hsbc Global Res downgraded shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. assumed coverage on Millicom International Cellular in a research report on Tuesday, May 28th. They set an “overweight” rating and a $30.00 target price for the company. Finally, Scotiabank reissued a “sector perform” rating and set a $30.00 price target on shares of Millicom International Cellular in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.20.

Institutional Trading of Millicom International Cellular

A number of hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its position in shares of Millicom International Cellular by 1,431.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,303 shares in the last quarter. Signaturefd LLC raised its holdings in Millicom International Cellular by 217.9% in the second quarter. Signaturefd LLC now owns 1,138 shares of the technology company’s stock worth $28,000 after purchasing an additional 780 shares in the last quarter. Fifth Third Bancorp bought a new position in Millicom International Cellular in the second quarter worth about $67,000. Principal Securities Inc. purchased a new stake in shares of Millicom International Cellular during the fourth quarter valued at about $87,000. Finally, Summit Securities Group LLC bought a new stake in shares of Millicom International Cellular in the 2nd quarter valued at about $98,000.

About Millicom International Cellular

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.