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

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Millicom International Cellular SA (NASDAQ:TIGO) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totalling 254,800 shares, an increase of 129.1% from the May 14th total of 111,200 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 131,900 shares, the days-to-cover ratio is currently 1.9 days.

Institutional investors and hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. acquired a new position in Millicom International Cellular in the fourth quarter worth $3,617,000. JPMorgan Chase & Co. bought a new position in shares of Millicom International Cellular in the first quarter valued at about $98,000. Wells Fargo & Company MN lifted its position in Millicom International Cellular by 103.6% during the 1st quarter. Wells Fargo & Company MN now owns 5,619 shares of the company’s stock worth $159,000 after buying an additional 2,859 shares in the last quarter. Coastal Investment Advisors Inc. grew its holdings in Millicom International Cellular by 84.3% during the 4th quarter. Coastal Investment Advisors Inc. now owns 6,946 shares of the company’s stock worth $312,000 after acquiring an additional 3,178 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in Millicom International Cellular in the 1st quarter valued at about $221,000. Hedge funds and other institutional investors own 6.97% of the company’s stock.

Millicom International Cellular stock traded down $3.12 on Thursday, hitting $25.61. The company’s stock had a trading volume of 160,547 shares, compared to its average volume of 96,351. The company has a fifty day moving average price of $24.66 and a 200-day moving average price of $37.54. The firm has a market cap of $2.68 billion, a P/E ratio of 176.27 and a beta of 0.72. Millicom International Cellular has a one year low of $20.15 and a one year high of $59.19. The company has a quick ratio of 1.39, a current ratio of 1.41 and a debt-to-equity ratio of 3.00.

Millicom International Cellular (NASDAQ:TIGO) last posted its earnings results on Thursday, April 30th. The company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.50). Millicom International Cellular had a net margin of 0.39% and a negative return on equity of 5.40%. The business had revenue of $1.09 billion during the quarter. Analysts anticipate that Millicom International Cellular will post 0.07 EPS for the current year.

Several research firms have weighed in on TIGO. TheStreet cut shares of Millicom International Cellular from a “c” rating to a “d+” rating in a research report on Monday, May 4th. BidaskClub raised shares of Millicom International Cellular from a “strong sell” rating to a “sell” rating in a research report on Friday, May 29th. New Street Research cut shares of Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research note on Monday, April 6th. Zacks Investment Research reaffirmed a “sell” rating on shares of Millicom International Cellular in a research report on Saturday, May 2nd. Finally, Scotiabank upgraded Millicom International Cellular from a “sector perform” rating to an “outperform” rating and set a $41.00 price objective on the stock in a research note on Thursday, March 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $54.50.

Millicom International Cellular Company Profile

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

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