Millicom International Cellular S.A. (NASDAQ:TIGO) Sees Large Increase in Short Interest

Millicom International Cellular S.A. (NASDAQ:TIGO) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 661,300 shares, an increase of 65.3% from the May 15th total of 400,000 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 1,010,000 shares, the days-to-cover ratio is presently 0.7 days.

Millicom International Cellular Stock Performance

NASDAQ TIGO traded up $0.49 during trading hours on Monday, hitting $38.17. The company’s stock had a trading volume of 832,909 shares, compared to its average volume of 414,237. Millicom International Cellular has a 12 month low of $22.59 and a 12 month high of $38.50. The company’s 50 day simple moving average is $34.13 and its two-hundred day simple moving average is $29.44. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64. The company has a market cap of $6.57 billion, a P/E ratio of 40.63 and a beta of 1.08.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.23. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.45 billion. Millicom International Cellular had a net margin of 2.70% and a return on equity of 4.43%. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 earnings per share. As a group, sell-side analysts expect that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Millicom International Cellular Dividend Announcement

The business also recently announced an annual dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th were paid a dividend of $0.75 per share. The ex-dividend date was Tuesday, April 8th. This represents a yield of 3.9%. Millicom International Cellular’s dividend payout ratio is presently 144.23%.

Hedge Funds Weigh In On Millicom International Cellular

A number of institutional investors and hedge funds have recently modified their holdings of the company. Militia Capital Partners LP bought a new stake in shares of Millicom International Cellular in the first quarter worth $908,000. Acadian Asset Management LLC bought a new stake in shares of Millicom International Cellular during the 1st quarter valued at about $819,000. Jane Street Group LLC purchased a new stake in shares of Millicom International Cellular during the 1st quarter valued at about $928,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Millicom International Cellular during the 1st quarter valued at about $8,504,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Millicom International Cellular in the 1st quarter worth approximately $50,664,000.

Wall Street Analysts Forecast Growth

TIGO has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Millicom International Cellular from $41.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. Wall Street Zen cut Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 30th. Barclays decreased their price objective on Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, April 3rd. UBS Group boosted their price objective on shares of Millicom International Cellular from $31.50 to $39.50 and gave the stock a “buy” rating in a research note on Friday, May 16th. Finally, Scotiabank boosted their target price on Millicom International Cellular from $37.30 to $37.90 and gave the stock a “sector outperform” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Millicom International Cellular currently has an average rating of “Moderate Buy” and an average price target of $38.23.

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.