Millicom International Cellular S.A. (NASDAQ:TIGO) Short Interest Down 18.8% in June

Millicom International Cellular S.A. (NASDAQ:TIGO) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 145,200 shares, a drop of 18.8% from the May 31st total of 178,900 shares. Based on an average trading volume of 113,600 shares, the short-interest ratio is presently 1.3 days.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Scotiabank lifted their price objective on shares of Millicom International Cellular from $26.80 to $30.00 and gave the company a “sector outperform” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. initiated coverage on Millicom International Cellular in a research report on Tuesday, May 28th. They issued an “overweight” rating and a $30.00 price target on the stock. Finally, HSBC increased their price objective on Millicom International Cellular from $22.50 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $27.00.

Millicom International Cellular Stock Up 6.0 %

Shares of Millicom International Cellular stock opened at $24.55 on Friday. Millicom International Cellular has a 52-week low of $14.46 and a 52-week high of $25.60. The company’s 50-day simple moving average is $23.11 and its 200-day simple moving average is $19.86. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 1.74.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.54 earnings per share for the quarter. The company had revenue of $1.49 billion for the quarter. Millicom International Cellular had a return on equity of 0.08% and a net margin of 0.12%. Analysts predict that Millicom International Cellular will post 2.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TIGO. LB Partners LLC acquired a new stake in Millicom International Cellular in the fourth quarter valued at $9,000,000. Morningstar Investment Services LLC increased its holdings in shares of Millicom International Cellular by 105.6% in the 4th quarter. Morningstar Investment Services LLC now owns 246,622 shares of the technology company’s stock valued at $4,474,000 after purchasing an additional 126,679 shares in the last quarter. Renaissance Group LLC lifted its stake in shares of Millicom International Cellular by 6.5% in the fourth quarter. Renaissance Group LLC now owns 139,565 shares of the technology company’s stock valued at $2,512,000 after purchasing an additional 8,508 shares during the period. Gabelli Funds LLC boosted its holdings in Millicom International Cellular by 17.2% during the first quarter. Gabelli Funds LLC now owns 88,833 shares of the technology company’s stock worth $1,797,000 after buying an additional 13,020 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its position in Millicom International Cellular by 29.5% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 61,784 shares of the technology company’s stock worth $1,250,000 after buying an additional 14,092 shares during the period.

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.