California Public Employees Retirement System lessened its stake in shares of United States Cellular Corp (NYSE:USM) by 30.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,040 shares of the Wireless communications provider’s stock after selling 21,470 shares during the quarter. California Public Employees Retirement System owned about 0.06% of United States Cellular worth $1,816,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in United States Cellular by 770.8% during the 1st quarter. JPMorgan Chase & Co. now owns 52,229 shares of the Wireless communications provider’s stock worth $2,099,000 after purchasing an additional 46,231 shares in the last quarter. UBS Group AG increased its holdings in United States Cellular by 235.0% during the 1st quarter. UBS Group AG now owns 24,403 shares of the Wireless communications provider’s stock worth $980,000 after purchasing an additional 17,119 shares in the last quarter. Barclays PLC increased its holdings in United States Cellular by 45.8% during the 1st quarter. Barclays PLC now owns 7,178 shares of the Wireless communications provider’s stock worth $288,000 after purchasing an additional 2,256 shares in the last quarter. Guggenheim Capital LLC bought a new stake in United States Cellular during the 1st quarter worth approximately $699,000. Finally, Crescent Grove Advisors LLC bought a new stake in United States Cellular during the 2nd quarter worth approximately $442,000. Institutional investors and hedge funds own 15.54% of the company’s stock.
In other news, EVP Jay Ellison sold 11,931 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $40.11, for a total value of $478,552.41. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Steven T. Campbell sold 2,362 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $42.12, for a total value of $99,487.44. Following the completion of the transaction, the executive vice president now owns 36,372 shares in the company, valued at approximately $1,531,988.64. The disclosure for this sale can be found here. Insiders sold a total of 23,769 shares of company stock worth $997,088 in the last 90 days. Company insiders own 1.60% of the company’s stock.
Shares of NYSE USM opened at $47.51 on Friday. United States Cellular Corp has a twelve month low of $32.06 and a twelve month high of $50.12. The company has a market capitalization of $4.00 billion, a PE ratio of 81.91, a price-to-earnings-growth ratio of 42.12 and a beta of 0.54. The company has a current ratio of 2.90, a quick ratio of 2.66 and a debt-to-equity ratio of 0.41.
United States Cellular (NYSE:USM) last announced its earnings results on Friday, August 3rd. The Wireless communications provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.37. United States Cellular had a return on equity of 2.78% and a net margin of 1.74%. The firm had revenue of $974.00 million for the quarter, compared to the consensus estimate of $960.58 million. During the same quarter in the previous year, the business earned $0.14 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. On average, analysts forecast that United States Cellular Corp will post 1.11 EPS for the current fiscal year.
A number of brokerages have commented on USM. Zacks Investment Research raised United States Cellular from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a report on Friday, October 12th. ValuEngine raised United States Cellular from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Citigroup boosted their price objective on United States Cellular from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. Finally, JPMorgan Chase & Co. lowered United States Cellular from a “neutral” rating to an “underweight” rating and set a $43.00 price objective for the company. in a report on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. United States Cellular presently has an average rating of “Buy” and a consensus price target of $48.67.
About United States Cellular
United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers postpaid and prepaid service plans with voice, messaging, and data usage option services; and smartphone messaging, data, and Internet services, which allow the customer to access the Web and social network sites, e-mail, text, picture, and video messaging, as well as to utilize GPS navigation, and browse and download various applications.
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