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

Millicom International Cellular SA (NASDAQ:TIGO) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 1,958,239 shares, a decline of 12.5% from the February 12th total of 2,238,168 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily volume of 1,510,759 shares, the short-interest ratio is presently 1.3 days. Based on an average daily volume of 1,510,759 shares, the short-interest ratio is presently 1.3 days. Approximately 1.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Millicom International Cellular

Large investors have recently bought and sold shares of the stock. Allworth Financial LP boosted its holdings in shares of Millicom International Cellular by 1,129.7% in the fourth quarter. Allworth Financial LP now owns 455 shares of the technology company’s stock valued at $25,000 after acquiring an additional 418 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in shares of Millicom International Cellular in the 4th quarter worth $26,000. Blue Trust Inc. lifted its holdings in shares of Millicom International Cellular by 736.2% in the fourth quarter. Blue Trust Inc. now owns 485 shares of the technology company’s stock valued at $27,000 after buying an additional 427 shares during the period. Smartleaf Asset Management LLC boosted its stake in Millicom International Cellular by 155.4% during the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after buying an additional 314 shares in the last quarter. Finally, Spire Wealth Management bought a new position in Millicom International Cellular during the fourth quarter valued at about $29,000.

Analysts Set New Price Targets

A number of analysts recently issued reports on TIGO shares. 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. Zacks Research cut shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research report on Friday, March 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a research note on Thursday, January 22nd. Scotiabank downgraded shares of Millicom International Cellular from a “sector perform” rating to a “sector underperform” rating and cut their target price for the company from $46.80 to $43.00 in a research note on Wednesday, February 11th. Finally, UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their target price for the company from $49.00 to $70.00 in a report on Thursday, January 15th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $59.33.

Millicom International Cellular Stock Up 1.0%

NASDAQ:TIGO opened at $72.89 on Tuesday. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of 9.29 and a beta of 0.90. The stock has a 50-day simple moving average of $63.90 and a 200 day simple moving average of $54.95. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88. Millicom International Cellular has a one year low of $26.35 and a one year high of $75.25.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Thursday, February 26th. The technology company reported $1.50 earnings per share 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 company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company earned $0.18 earnings per share. The firm’s revenue was up 15.7% compared to the same quarter last year. Sell-side analysts predict that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

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.