Millicom International Cellular SA (NASDAQ:TIGO) Short Interest Update

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 trading volume, of 928,788 shares, the short-interest 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 trading volume, of 928,788 shares, the short-interest ratio is currently 2.5 days.

Millicom International Cellular Price Performance

Shares of NASDAQ TIGO traded up $2.68 during mid-day trading on Friday, reaching $58.71. 1,422,541 shares of the company traded hands, compared to its average volume of 1,029,503. Millicom International Cellular has a fifty-two week low of $25.50 and a fifty-two week high of $58.85. The firm has a market cap of $10.10 billion, a PE ratio of 8.99 and a beta of 0.94. The stock has a fifty day simple moving average of $53.07 and a 200-day simple moving average of $47.81. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.93 and a quick ratio of 0.91.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Thursday, November 6th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21). Millicom International Cellular had a net margin of 19.58% and a return on equity of 10.81%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. The firm’s quarterly revenue was down .8% on a year-over-year basis. Equities research analysts anticipate that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TIGO shares. Wall Street Zen upgraded shares of Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Zacks Research raised shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a research note on Wednesday, October 8th. Scotiabank lifted their price target on Millicom International Cellular from $46.10 to $46.80 and gave the company a “sector perform” rating in a report on Friday, November 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Millicom International Cellular from $55.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Two equities research 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.97.

Institutional Trading of Millicom International Cellular

Several institutional investors and hedge funds have recently added to or reduced their stakes in TIGO. Blue Trust Inc. grew its position 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 buying an additional 427 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Millicom International Cellular by 155.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock worth $25,000 after acquiring an additional 314 shares during the last quarter. Spire Wealth Management acquired a new stake in shares of Millicom International Cellular during the fourth quarter worth $29,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Millicom International Cellular during the third quarter worth $26,000. Finally, Alpine Bank Wealth Management purchased a new stake in shares of Millicom International Cellular during the third quarter valued at $28,000.

About Millicom International Cellular

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.