Millicom International Cellular S.A. (NASDAQ:TIGO) Short Interest Down 58.0% in September

Millicom International Cellular S.A. (NASDAQ:TIGO) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 24,100 shares, a drop of 58.0% from the August 31st total of 57,400 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 108,600 shares, the days-to-cover ratio is presently 0.2 days.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TIGO shares. Hsbc Global Res lowered shares of Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Scotiabank raised shares of Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $30.00 to $37.30 in a research report on Friday, September 20th. HSBC lowered shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $25.00 to $33.00 in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. initiated coverage on Millicom International Cellular in a report on Friday, September 6th. They set an “overweight” rating and a $35.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Millicom International Cellular presently has an average rating of “Moderate Buy” and an average price target of $30.66.

Millicom International Cellular Price Performance

NASDAQ TIGO opened at $27.76 on Friday. The company has a market cap of $2.82 billion, a PE ratio of 555.20 and a beta of 1.23. The firm’s 50 day moving average price is $26.04 and its 200-day moving average price is $23.58. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.64 and a current ratio of 0.66. Millicom International Cellular has a 52-week low of $14.46 and a 52-week high of $28.75.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Friday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.05). The company had revenue of $1.46 billion for the quarter. Millicom International Cellular had a net margin of 1.83% and a return on equity of 2.91%. During the same quarter in the previous year, the business earned ($0.13) earnings per share. Sell-side analysts forecast that Millicom International Cellular will post 2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Optiver Holding B.V. lifted its position in shares of Millicom International Cellular by 216.0% during the fourth quarter. Optiver Holding B.V. now owns 56,615 shares of the technology company’s stock valued at $1,019,000 after buying an additional 38,697 shares during the last quarter. Morningstar Investment Services LLC lifted its position in Millicom International Cellular by 105.6% during the fourth quarter. Morningstar Investment Services LLC now owns 246,622 shares of the technology company’s stock valued at $4,474,000 after acquiring an additional 126,679 shares during the last quarter. Greytown Advisors Inc. boosted its stake in Millicom International Cellular by 91.6% in the fourth quarter. Greytown Advisors Inc. now owns 45,955 shares of the technology company’s stock valued at $827,000 after acquiring an additional 21,965 shares in the last quarter. SG Americas Securities LLC grew its holdings in Millicom International Cellular by 13.1% in the first quarter. SG Americas Securities LLC now owns 7,925 shares of the technology company’s stock worth $160,000 after purchasing an additional 920 shares during the last quarter. Finally, Clifford Capital Partners LLC increased its position in shares of Millicom International Cellular by 8.7% during the first quarter. Clifford Capital Partners LLC now owns 42,867 shares of the technology company’s stock worth $867,000 after purchasing an additional 3,427 shares in the last quarter.

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.