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

Key Points

• Short interest in Millicom International Cellular increased by 27.3% in August, rising from 2,200,000 to 2,800,000 shares, representing 3.0% of the company's shares sold short.
• Several analyst ratings were updated, with Scotiabank raising the price target to $46.10 while UBS downgraded to "neutral" but raised their price target to $49.00.
• Millicom International Cellular reported a net margin of 16.97% and revenue of $1.37 billion for the last quarter, missing estimates slightly.

Millicom International Cellular SA (NASDAQ:TIGO - Get Free Report) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 2,800,000 shares, an increase of 27.3% from the August 15th total of 2,200,000 shares. Based on an average trading volume of 1,200,000 shares, the days-to-cover ratio is presently 2.3 days. Currently, 3.0% of the company's stock are sold short. Currently, 3.0% of the company's stock are sold short. Based on an average trading volume of 1,200,000 shares, the days-to-cover ratio is presently 2.3 days.

Millicom International Cellular Stock Up 1.7%

NASDAQ TIGO traded up $0.82 on Friday, hitting $48.88. 81,486 shares of the stock traded hands, compared to its average volume of 942,496. The stock has a 50-day moving average of $44.10 and a 200 day moving average of $37.12. Millicom International Cellular has a twelve month low of $23.61 and a twelve month high of $50.78. The company has a market capitalization of $8.41 billion, a P/E ratio of 8.62 and a beta of 1.09. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.59.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.03). Millicom International Cellular had a net margin of 16.97% and a return on equity of 10.32%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. As a group, analysts expect that Millicom International Cellular will post 1.91 earnings per share for the current fiscal year.

Institutional Trading of Millicom International Cellular

A number of institutional investors and hedge funds have recently made changes to their positions in TIGO. USA Financial Formulas acquired a new stake in shares of Millicom International Cellular during the 2nd quarter worth approximately $30,000. State of Wyoming acquired a new stake in shares of Millicom International Cellular during the 4th quarter worth approximately $49,000. EverSource Wealth Advisors LLC raised its position in shares of Millicom International Cellular by 55.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company's stock worth $53,000 after purchasing an additional 502 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Millicom International Cellular during the 1st quarter worth approximately $84,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Millicom International Cellular by 65.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock worth $190,000 after purchasing an additional 2,489 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently commented on TIGO. Scotiabank boosted their price target on Millicom International Cellular from $37.00 to $46.10 and gave the stock a "sector perform" rating in a research note on Tuesday, August 19th. UBS Group cut Millicom International Cellular from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $39.50 to $49.00 in a research note on Thursday, September 11th. Wall Street Zen cut Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. Zacks Research upgraded Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Finally, JPMorgan Chase & Co. boosted their price target on Millicom International Cellular from $50.00 to $55.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.02.

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.