Short Interest in Millicom International Cellular SA (NASDAQ:TIGO) Decreases By 52.7%

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Millicom International Cellular SA (NASDAQ:TIGO) was the recipient of a significant decrease in short interest in March. As of March 13th, there was short interest totalling 53,400 shares, a decrease of 52.7% from the February 27th total of 112,800 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 69,900 shares, the short-interest ratio is presently 0.8 days.

TIGO has been the subject of a number of recent analyst reports. ValuEngine raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating in a report on Tuesday. BidaskClub lowered shares of Millicom International Cellular from a “hold” rating to a “sell” rating in a research note on Wednesday, March 18th. Zacks Investment Research upgraded Millicom International Cellular from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Tuesday, February 25th. Scotiabank upgraded Millicom International Cellular from a “sector perform” rating to an “outperform” rating and set a $41.00 price target for the company in a research note on Thursday, March 12th. Finally, TheStreet upgraded Millicom International Cellular from a “d+” rating to a “c” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $56.33.

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its stake in shares of Millicom International Cellular by 224.1% during the third quarter. Tower Research Capital LLC TRC now owns 1,358 shares of the company’s stock worth $67,000 after purchasing an additional 939 shares in the last quarter. Coastal Investment Advisors Inc. boosted its holdings in Millicom International Cellular by 84.3% in the 4th quarter. Coastal Investment Advisors Inc. now owns 6,946 shares of the company’s stock worth $312,000 after buying an additional 3,178 shares during the last quarter. Bank of America Corp DE boosted its holdings in Millicom International Cellular by 48.4% in the 4th quarter. Bank of America Corp DE now owns 15,259 shares of the company’s stock worth $736,000 after buying an additional 4,975 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Millicom International Cellular by 29.0% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 25,867 shares of the company’s stock worth $1,248,000 after buying an additional 5,809 shares during the last quarter. Finally, FMR LLC purchased a new stake in Millicom International Cellular during the 1st quarter worth approximately $1,495,000. 7.17% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:TIGO opened at $29.70 on Friday. Millicom International Cellular has a 1 year low of $22.05 and a 1 year high of $62.46. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 19.80 and a beta of 0.51. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.10 and a quick ratio of 1.09. The business’s 50 day moving average price is $40.02 and its 200-day moving average price is $45.33.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.30 by $0.19. The company had revenue of $1.15 billion during the quarter. Millicom International Cellular had a net margin of 3.50% and a negative return on equity of 3.05%. On average, sell-side analysts expect that Millicom International Cellular will post 1.54 earnings per share for the current year.

About Millicom International Cellular

Millicom International Cellular SA provides cable and mobile services in Latin America and Africa. The company offers mobile services, including mobile data and voice; short message service; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.

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