Short-term stake in Millicom International Cellular SA (NASDAQ:TIGO) increases by 37.2%

Millicom International Cellular SA (NASDAQ:TIGO – Get Rating) saw strong growth in short-term interest in October. As of October 31, there was short interest totaling 370,300 shares, a growth of 37.2% from the total of 269,800 shares as of October 15. Based on an average trading volume of 169,900 shares, the short interest ratio is currently 2.2 days.

Performance of Millicom International Cellular shares

TIGO stock traded down $0.24 on Friday, hitting $13.25. The company’s shares had a trading volume of 380,547 shares, compared to an average volume of 185,166. The company has a 50-day moving average of $11.99 and a two-hundred-day moving average of 15.00 $. Millicom International Cellular has a 1 year minimum of $10.22 and a 1 year maximum of $37.00. The stock has a market capitalization of $1.35 billion, a price-earnings ratio of 1.75 and a beta of 0.93. The company has a current ratio of 1.03, a quick ratio of 0.99 and a debt ratio of 1.88.

Millicom International Cellular (NASDAQ:TIGO – Get Rating) last released its quarterly results on Thursday, October 27. The technology company reported EPS ($0.20) for the quarter. The company had revenue of $1.39 billion in the quarter. Millicom International Cellular achieved a net margin of 13.65% and a return on equity of 20.35%.

Analysts set new price targets

TIGO has been the subject of several recent analyst reports. UBS Group launched coverage on Millicom International Cellular shares in a research report on Monday, August 29. They set a “neutral” rating and a price target of $16.50 for the company. Goldman Sachs Group cut its price target on Millicom International Cellular shares from $29.05 to $18.00 and set a “neutral” rating for the company in a Friday, August 26 research report. Finally, HSBC restated a “reduced” rating and set a price target of $14.00 on Millicom International Cellular shares in a Monday, August 22 research report. One equity research analyst has assigned the stock a sell rating, two have issued a hold rating and three have assigned the company a buy rating. According to MarketBeat.com, Millicom International Cellular currently has an average rating of “Hold” and an average price target of $24.56.

Hedge funds weigh on Millicom International Cellular

Major investors have recently been buying and selling shares of the company. IFP Advisors Inc acquired a new position in Millicom International Cellular during the 3rd quarter for a value of $64,000. Advisor Group Holdings Inc. increased its position in Millicom International Cellular by 261.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,128 shares of the technology company worth $28,000 after buying 816 additional shares in the last quarter. AlphaMark Advisors LLC increased its position in Millicom International Cellular by 108.9% during the 1st quarter. AlphaMark Advisors LLC now owns 1,274 shares of the technology company worth $32,000 after buying 664 additional shares in the last quarter. Lazard Asset Management LLC bought a new position in Millicom International Cellular during Q1 for $50,000. Finally, UBS Group AG increased its equity stake in Millicom International Cellular by 539.7% during the first quarter. UBS Group AG now owns 2,482 shares of the technology company worth $62,000 after purchasing an additional 2,094 shares during the period. Hedge funds and other institutional investors own 6.95% of the company’s shares.

About Millicom International Cellular

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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 microinsurance.

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