Millicom International Cellular S.A. (NASDAQ:TIGO) Sees Significant Drop in Short Interest

Millicom International Cellular S.A. (NASDAQ:TIGO) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 106,000 shares, a drop of 21.4% from the March 31st total of 134,800 shares. Based on an average daily trading volume, of 83,600 shares, the days-to-cover ratio is presently 1.3 days.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TIGO. JPMorgan Chase & Co. raised shares of Millicom International Cellular from a “neutral” rating to an “overweight” rating in a report on Thursday, March 28th. New Street Research raised Millicom International Cellular from a “neutral” rating to a “buy” rating and raised their target price for the company from $20.00 to $24.00 in a report on Thursday, February 29th. Morgan Stanley upgraded Millicom International Cellular from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 5th. Scotiabank upped their price objective on Millicom International Cellular from $18.00 to $26.10 and gave the stock a “sector outperform” rating in a research report on Wednesday, February 28th. Finally, HSBC lifted their target price on Millicom International Cellular from $22.50 to $24.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.70.

Millicom International Cellular Price Performance

NASDAQ TIGO traded down $0.06 during mid-day trading on Tuesday, reaching $20.44. 27,809 shares of the stock were exchanged, compared to its average volume of 80,194. The stock has a 50 day simple moving average of $19.10 and a 200-day simple moving average of $17.64. Millicom International Cellular has a one year low of $14.46 and a one year high of $20.81. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.82 and a quick ratio of 0.80.

Millicom International Cellular (NASDAQ:TIGO) last issued its earnings results on Tuesday, February 27th. The technology company reported ($0.36) EPS for the quarter. Millicom International Cellular had a negative net margin of 1.45% and a negative return on equity of 2.41%. The firm had revenue of $1.48 billion during the quarter.

Institutional Trading of Millicom International Cellular

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its holdings in shares of Millicom International Cellular by 1,431.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,394 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,303 shares in the last quarter. Operose Advisors LLC purchased a new position in Millicom International Cellular during the 3rd quarter valued at $29,000. Principal Securities Inc. bought a new position in Millicom International Cellular in the fourth quarter worth about $87,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Millicom International Cellular by 15.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 15,255 shares of the technology company’s stock valued at $236,000 after purchasing an additional 2,092 shares during the period. Finally, Optiver Holding B.V. purchased a new position in Millicom International Cellular during the third quarter valued at $277,000.

Millicom International Cellular Company Profile

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