Millicom International Cellular SA (NASDAQ:TIGO) Sees Significant Increase in Short Interest

by · The Cerbat Gem

Millicom International Cellular SA (NASDAQ:TIGO – Get Free Report) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 2,302,893 shares, an increase 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 shares of the company are sold short. Approximately 1.3% of the shares of the company are sold short. Based on an average daily volume of 928,788 shares, the days-to-cover ratio is currently 2.5 days.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO opened at $58.71 on Monday. The business’s 50 day moving average price is $53.07 and its two-hundred day moving average price is $47.88. Millicom International Cellular has a twelve month low of $25.50 and a twelve month high of $58.85. The company has a market cap of $10.10 billion, a PE ratio of 8.99 and a beta of 0.94. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 1.76.

Millicom International Cellular (NASDAQ:TIGO – Get Free Report) last announced its earnings results 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). Millicom International Cellular had a return on equity of 10.81% and a net margin of 19.58%.The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts predict that Millicom International Cellular will post 1.91 EPS for the current year.

Institutional Trading of Millicom International Cellular

Several institutional investors have recently modified their holdings of the business. Blue Trust Inc. boosted its position in shares of Millicom International Cellular by 736.2% during the 4th quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock valued at $27,000 after purchasing an additional 427 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Millicom International Cellular by 155.4% in the third 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. Spire Wealth Management purchased a new position in Millicom International Cellular during the 4th quarter worth $29,000. Harbor Capital Advisors Inc. purchased a new stake in Millicom International Cellular in the 3rd quarter valued at about $26,000. Finally, Alpine Bank Wealth Management bought a new stake in Millicom International Cellular during the third quarter worth $28,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TIGO. Zacks Research raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. JPMorgan Chase & Co. lifted their price target on shares of Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Wall Street Zen raised Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research note on Wednesday, October 8th. Finally, Scotiabank upped 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 research report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.97.

Check Out Our Latest Stock Report on Millicom International Cellular

Millicom International Cellular Company Profile

(Get Free Report)

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.

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