Dynamic Technology Lab Private Ltd purchased a new position in United States Cellular Corp. (NYSE:USM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,419 shares of the company’s stock, valued at approximately $292,000.
Several other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in United States Cellular Corp. by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 118,113 shares of the company’s stock worth $4,639,000 after buying an additional 2,060 shares during the last quarter. Nuveen Asset Management LLC increased its stake in United States Cellular Corp. by 230.6% in the first quarter. Nuveen Asset Management LLC now owns 43,012 shares of the company’s stock worth $1,965,000 after buying an additional 30,000 shares during the last quarter. DIAM Co. Ltd. acquired a new stake in United States Cellular Corp. during the second quarter worth approximately $125,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in United States Cellular Corp. during the first quarter worth approximately $210,000. Finally, Emerald Acquisition Ltd. acquired a new stake in United States Cellular Corp. during the second quarter worth approximately $4,357,000. Institutional investors own 14.90% of the company’s stock.
United States Cellular Corp. (NYSE:USM) traded down 0.08% during midday trading on Friday, hitting $36.73. 1,482 shares of the stock were exchanged. The company has a 50 day moving average price of $37.33 and a 200 day moving average price of $39.49. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 31.72 and a beta of 0.69. United States Cellular Corp. has a one year low of $32.72 and a one year high of $45.87.
United States Cellular Corp. (NYSE:USM) last issued its quarterly earnings data on Friday, August 5th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. United States Cellular Corp. had a net margin of 2.45% and a return on equity of 2.30%. The firm had revenue of $980 million for the quarter, compared to analyst estimates of $973.14 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The company’s revenue was up .4% on a year-over-year basis. Equities analysts anticipate that United States Cellular Corp. will post $0.51 EPS for the current year.
Separately, Zacks Investment Research upgraded shares of United States Cellular Corp. from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a 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.
Want to see what other hedge funds are holding USM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United States Cellular Corp. (NYSE:USM).
Receive News & Ratings for United States Cellular Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United States Cellular Corp. and related companies with MarketBeat.com's FREE daily email newsletter.