Stock Traders Purchase High Volume of Call Options on Millicom International Cellular (NASDAQ:TIGO)

Millicom International Cellular SA (NASDAQ:TIGO) saw some unusual options trading activity on Monday. Stock traders acquired 2,593 call options on the company. This represents an increase of 306% compared to the typical volume of 639 call options.

Millicom International Cellular Stock Down 0.0%

Shares of NASDAQ:TIGO opened at $52.59 on Wednesday. Millicom International Cellular has a 1 year low of $23.61 and a 1 year high of $56.27. 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 business’s 50-day moving average is $49.15 and its 200-day moving average is $44.03. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 9.28 and a beta of 1.11.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21). The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%.The business’s revenue for the quarter was down .8% compared to the same quarter last year. Equities research analysts predict that Millicom International Cellular will post 1.91 earnings per share for the current year.

Institutional Investors Weigh In On Millicom International Cellular

Several institutional investors and hedge funds have recently added to or reduced their stakes in TIGO. Segall Bryant & Hamill LLC lifted its holdings in shares of Millicom International Cellular by 0.3% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 97,577 shares of the technology company’s stock worth $3,656,000 after acquiring an additional 300 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Millicom International Cellular by 155.4% during the third quarter. Smartleaf Asset Management LLC now owns 516 shares of the technology company’s stock valued at $25,000 after purchasing an additional 314 shares in the last quarter. AQR Capital Management LLC lifted its stake in Millicom International Cellular by 5.0% during the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock worth $290,000 after purchasing an additional 453 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Millicom International Cellular by 32.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,867 shares of the technology company’s stock worth $91,000 after purchasing an additional 454 shares in the last quarter. Finally, BTG Pactual Asset Management US LLC boosted its holdings in shares of Millicom International Cellular by 0.8% in the 3rd quarter. BTG Pactual Asset Management US LLC now owns 63,937 shares of the technology company’s stock worth $3,104,000 after purchasing an additional 521 shares in the last quarter.

Analyst Upgrades and Downgrades

TIGO has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Millicom International Cellular in a research note on Wednesday, October 8th. Wall Street Zen raised Millicom International Cellular from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. JPMorgan Chase & Co. lifted their price target on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Zacks Research upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Finally, UBS Group lowered Millicom International Cellular from a “buy” rating to a “neutral” rating and raised their price objective for the company from $39.50 to $49.00 in a research note on Thursday, September 11th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.47.

About Millicom International Cellular

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.