Millicom International Cellular S.A. (NASDAQ:TIGO) Sees Large Increase in Short Interest

Millicom International Cellular S.A. (NASDAQ:TIGO) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 125,100 shares, an increase of 23.6% from the December 15th total of 101,200 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 130,800 shares, the short-interest ratio is presently 1.0 days.

Hedge Funds Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently made changes to their positions in TIGO. Simplicity Wealth LLC boosted its position in shares of Millicom International Cellular by 3.4% during the 3rd quarter. Simplicity Wealth LLC now owns 18,068 shares of the technology company’s stock worth $490,000 after acquiring an additional 600 shares in the last quarter. MML Investors Services LLC increased its stake in shares of Millicom International Cellular by 5.3% in the 3rd quarter. MML Investors Services LLC now owns 14,815 shares of the technology company’s stock valued at $402,000 after purchasing an additional 750 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Millicom International Cellular by 159.7% during the 3rd quarter. Blue Trust Inc. now owns 2,223 shares of the technology company’s stock worth $60,000 after buying an additional 1,367 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Millicom International Cellular by 11.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,441 shares of the technology company’s stock worth $477,000 after buying an additional 1,964 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in Millicom International Cellular in the third quarter valued at about $76,000.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO traded up $0.09 during mid-day trading on Thursday, hitting $27.00. The company had a trading volume of 433,506 shares, compared to its average volume of 318,391. Millicom International Cellular has a one year low of $15.55 and a one year high of $28.75. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The firm has a 50-day simple moving average of $25.34 and a two-hundred day simple moving average of $25.91.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.38). Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company posted ($0.03) EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. Sell-side analysts expect that Millicom International Cellular will post 1.98 EPS for the current year.

Millicom International Cellular Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, January 10th. Investors of record on Friday, January 3rd were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 3rd. Millicom International Cellular’s payout ratio is 106.38%.

Analysts Set New Price Targets

TIGO has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price target on Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday. Scotiabank raised Millicom International Cellular from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $30.00 to $37.30 in a research report on Friday, September 20th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.26.

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.