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) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 2,800,000 shares, a growth of 27.3% from the August 15th total of 2,200,000 shares. Currently, 3.0% of the shares of the company are sold short. Based on an average trading volume of 1,200,000 shares, the short-interest ratio is currently 2.3 days. Based on an average trading volume of 1,200,000 shares, the short-interest ratio is currently 2.3 days. Currently, 3.0% of the shares of the company are sold short.

Institutional Investors Weigh In On Millicom International Cellular

A number of large investors have recently bought and sold shares of the business. Boston Partners acquired a new stake in Millicom International Cellular during the 1st quarter worth approximately $73,286,000. Teacher Retirement System of Texas acquired a new stake in shares of Millicom International Cellular during the 1st quarter worth about $1,402,000. KBC Group NV acquired a new position in Millicom International Cellular in the 1st quarter valued at $233,000. CWA Asset Management Group LLC boosted its holdings in Millicom International Cellular by 34.3% in the 1st quarter. CWA Asset Management Group LLC now owns 12,307 shares of the technology company's stock valued at $373,000 after purchasing an additional 3,141 shares during the period. Finally, GSA Capital Partners LLP bought a new position in Millicom International Cellular during the 1st quarter worth $1,648,000.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Scotiabank raised their target price on shares of 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. JPMorgan Chase & Co. boosted their target price on shares of Millicom International Cellular from $50.00 to $55.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. UBS Group cut Millicom International Cellular from a "buy" rating to a "neutral" rating and upped their target price for the company from $39.50 to $49.00 in a research report on Thursday, September 11th. Wall Street Zen lowered Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 13th. Finally, Zacks Research raised Millicom International Cellular from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.02.

Millicom International Cellular Trading Up 3.4%

NASDAQ TIGO traded up $1.62 during mid-day trading on Friday, hitting $49.68. The company's stock had a trading volume of 3,354,914 shares, compared to its average volume of 1,076,021. Millicom International Cellular has a 52-week low of $23.61 and a 52-week high of $50.78. The firm has a market capitalization of $8.55 billion, a P/E ratio of 8.76 and a beta of 1.09. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.87. The stock's fifty day simple moving average is $44.33 and its two-hundred day simple moving average is $37.28.

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

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.