Rhumbline Advisers cut its position in shares of United States Cellular Corp (NYSE:USM) by 39.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 11,170 shares of the Wireless communications provider’s stock after selling 7,197 shares during the period. Rhumbline Advisers’ holdings in United States Cellular were worth $513,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in United States Cellular by 92.2% in the third quarter. JPMorgan Chase & Co. now owns 45,046 shares of the Wireless communications provider’s stock valued at $2,018,000 after purchasing an additional 21,613 shares in the last quarter. Martingale Asset Management L P bought a new position in United States Cellular in the fourth quarter valued at approximately $2,910,000. D. E. Shaw & Co. Inc. grew its stake in United States Cellular by 21.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 267,014 shares of the Wireless communications provider’s stock valued at $13,877,000 after purchasing an additional 46,446 shares in the last quarter. Bank of Montreal Can grew its stake in United States Cellular by 46.9% in the fourth quarter. Bank of Montreal Can now owns 796 shares of the Wireless communications provider’s stock valued at $41,000 after purchasing an additional 254 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in United States Cellular in the fourth quarter valued at approximately $1,254,000. Institutional investors and hedge funds own 16.95% of the company’s stock.
A number of research firms have recently issued reports on USM. Raymond James cut their price objective on United States Cellular from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Zacks Investment Research raised United States Cellular from a “strong sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, B. Riley set a $50.00 price objective on United States Cellular and gave the company a “hold” rating in a research report on Tuesday, February 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $52.20.
Shares of USM traded down $0.37 during mid-day trading on Wednesday, reaching $43.78. The company’s stock had a trading volume of 5,479 shares, compared to its average volume of 227,275. United States Cellular Corp has a 1-year low of $32.33 and a 1-year high of $59.74. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 35.81 and a beta of 0.73. The company has a quick ratio of 2.10, a current ratio of 2.29 and a debt-to-equity ratio of 0.59.
United States Cellular (NYSE:USM) last released its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.16. United States Cellular had a return on equity of 3.76% and a net margin of 4.01%. The company had revenue of $966.00 million during the quarter, compared to analysts’ expectations of $980.16 million. During the same period last year, the firm posted $0.52 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. As a group, analysts expect that United States Cellular Corp will post 1.27 earnings per share for the current year.
In related news, EVP Steven T. Campbell sold 4,703 shares of United States Cellular stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $48.17, for a total transaction of $226,543.51. Following the completion of the sale, the executive vice president now directly owns 23,935 shares of the company’s stock, valued at approximately $1,152,948.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kenneth R. Meyers sold 30,000 shares of United States Cellular stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $44.05, for a total value of $1,321,500.00. Following the sale, the insider now directly owns 100,632 shares of the company’s stock, valued at $4,432,839.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,338 shares of company stock valued at $2,623,180. Insiders own 0.62% of the company’s stock.
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United States Cellular Company Profile
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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