Short Interest in Millicom International Cellular SA (NASDAQ:TIGO) Increases By 26.7%

Millicom International Cellular SA (NASDAQ:TIGO) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 2,302,893 shares, a growth of 26.7% from the December 15th total of 1,817,021 shares. Based on an average daily volume of 928,788 shares, the days-to-cover ratio is currently 2.5 days. Approximately 1.3% of the company’s shares are sold short. Approximately 1.3% of the company’s shares are sold short. Based on an average daily volume of 928,788 shares, the days-to-cover ratio is currently 2.5 days.

Wall Street Analyst Weigh In

Several research firms have weighed in on TIGO. Scotiabank boosted their target price on shares of Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. UBS Group raised Millicom International Cellular from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $70.00 in a research note on Thursday, January 15th. Zacks Research downgraded Millicom International Cellular from a “strong-buy” rating to a “hold” rating in a research report on Friday. Finally, Wall Street Zen upgraded Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Millicom International Cellular currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.97.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its position in Millicom International Cellular by 155.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after purchasing an additional 314 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Millicom International Cellular in the third quarter valued at approximately $26,000. Blue Trust Inc. lifted its stake in Millicom International Cellular by 736.2% in the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock worth $27,000 after acquiring an additional 427 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in Millicom International Cellular during the 3rd quarter worth approximately $28,000. Finally, Spire Wealth Management purchased a new stake in shares of Millicom International Cellular in the 4th quarter valued at approximately $29,000.

Millicom International Cellular Stock Down 2.6%

Shares of TIGO opened at $57.20 on Tuesday. The company’s 50-day simple moving average is $53.26 and its 200-day simple moving average is $48.02. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.91 and a current ratio of 0.93. Millicom International Cellular has a 1 year low of $25.50 and a 1 year high of $58.85. The stock has a market capitalization of $9.84 billion, a PE ratio of 8.79 and a beta of 0.94.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. Millicom International Cellular had a net margin of 19.58% and a return on equity of 10.81%. The business’s quarterly revenue was down .8% compared to the same quarter last year. Analysts forecast that Millicom International Cellular will post 1.91 earnings per share for the current fiscal year.

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.