Bank of New York Mellon Corp increased its position in shares of United States Cellular Corp. (NYSE:USM) by 1.8% during the second quarter, Holdings Channel reports. The institutional investor owned 118,113 shares of the company’s stock after buying an additional 2,060 shares during the period. Bank of New York Mellon Corp owned about 0.14% of United States Cellular Corp. worth $4,639,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. bought a new position in United States Cellular Corp. during the first quarter worth about $210,000. Jacobs Levy Equity Management Inc. raised its position in United States Cellular Corp. by 5.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 5,700 shares of the company’s stock worth $260,000 after buying an additional 300 shares in the last quarter. Palo Capital Inc. bought a new position in United States Cellular Corp. during the second quarter worth about $408,000. Menta Capital LLC raised its position in United States Cellular Corp. by 1.5% in the first quarter. Menta Capital LLC now owns 13,746 shares of the company’s stock worth $628,000 after buying an additional 200 shares in the last quarter. Finally, Zebra Capital Management LLC bought a new position in United States Cellular Corp. during the first quarter worth about $642,000. Institutional investors and hedge funds own 14.90% of the company’s stock.
Shares of United States Cellular Corp. (NYSE:USM) traded down 1.14% on Friday, reaching $36.49. The company’s stock had a trading volume of 84,680 shares. United States Cellular Corp. has a 52 week low of $32.72 and a 52 week high of $45.87. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 31.51 and a beta of 0.69. The stock has a 50-day moving average of $37.66 and a 200 day moving average of $39.62.
United States Cellular Corp. (NYSE:USM) last posted its quarterly earnings data on Friday, August 5th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.09. United States Cellular Corp. had a return on equity of 2.30% and a net margin of 2.45%. The business earned $980 million during the quarter, compared to analysts’ expectations of $973.14 million. During the same quarter in the previous year, the firm earned $0.23 EPS. The firm’s revenue was up .4% compared to the same quarter last year. On average, analysts expect that United States Cellular Corp. will post $0.51 EPS for the current year.
Separately, Zacks Investment Research upgraded United States Cellular Corp. from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, August 9th.
United States Cellular Corp. Company Profile
United States Cellular Corporation (U.S. Cellular) is a provider of wireless telecommunication services. The Company operates all of its wireless operating markets are in the United States. U.S. Cellular provides service to postpaid and prepaid customers from a range of demographic segments. The Company focuses on retail consumers, government and small-to-mid-size business customers in vertical industries, such as construction, retail, professional services and real estate.
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