Short Interest in Millicom International Cellular SA (NASDAQ:TIGO) Increases By 41.9%

Millicom International Cellular SA (NASDAQ:TIGO) saw a significant increase in short interest in April. As of April 15th, there was short interest totaling 3,567,332 shares, an increase of 41.9% from the March 31st total of 2,514,102 shares. Approximately 2.1% of the company’s stock are sold short. Based on an average trading volume of 1,241,325 shares, the short-interest ratio is currently 2.9 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TIGO shares. UBS Group raised shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $70.00 in a research report on Thursday, January 15th. Zacks Research raised shares of Millicom International Cellular from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Morgan Stanley reissued a “positive” rating and set a $55.00 target price on shares of Millicom International Cellular in a research report on Thursday, February 26th. HSBC raised shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Friday, March 6th. Finally, Wall Street Zen downgraded shares of Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TIGO. Smartleaf Asset Management LLC grew its position in shares of Millicom International Cellular by 155.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after acquiring an additional 314 shares during the period. Allworth Financial LP grew its position in shares of Millicom International Cellular by 1,129.7% during the 4th quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after acquiring an additional 418 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of Millicom International Cellular during the 3rd quarter valued at approximately $26,000. Altshuler Shaham Ltd bought a new position in shares of Millicom International Cellular during the 4th quarter valued at approximately $26,000. Finally, Blue Trust Inc. grew 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 acquiring an additional 427 shares during the period.

Millicom International Cellular Trading Down 0.9%

Shares of TIGO stock opened at $82.07 on Wednesday. Millicom International Cellular has a 52-week low of $30.26 and a 52-week high of $85.05. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88. The company has a 50-day simple moving average of $75.57 and a two-hundred day simple moving average of $61.69. The company has a market capitalization of $13.87 billion, a price-to-earnings ratio of 10.45 and a beta of 0.87.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted $0.18 EPS. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. Research analysts anticipate that Millicom International Cellular will post 3.23 EPS for the current fiscal year.

Millicom International Cellular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Thursday, April 8th. Millicom International Cellular’s dividend payout ratio is currently 38.22%.

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.