United States Cellular (NYSE:USM) Shares Up 10.1% – Here’s Why

United States Cellular Co. (NYSE:USM) shares shot up 10.1% during trading on Friday . The company traded as high as $65.22 and last traded at $64.66. 64,640 shares changed hands during trading, a decline of 73% from the average session volume of 237,795 shares. The stock had previously closed at $58.71.

United States Cellular Price Performance

The company has a market cap of $5.35 billion, a price-to-earnings ratio of 93.96 and a beta of 0.48. The company has a fifty day simple moving average of $55.49 and a two-hundred day simple moving average of $50.41. The company has a quick ratio of 1.39, a current ratio of 1.55 and a debt-to-equity ratio of 0.62.

United States Cellular (NYSE:USM) last issued its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. United States Cellular had a net margin of 1.88% and a return on equity of 1.55%. The firm had revenue of $927.00 million for the quarter, compared to analysts’ expectations of $924.96 million. During the same period in the prior year, the company earned $0.05 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. On average, equities research analysts anticipate that United States Cellular Co. will post 0.61 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Kevin R. Lowell sold 37,597 shares of United States Cellular stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.34, for a total transaction of $1,855,035.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On United States Cellular

Several hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new stake in United States Cellular in the 2nd quarter valued at about $28,000. SG Americas Securities LLC acquired a new position in shares of United States Cellular in the 2nd quarter valued at about $115,000. Bailard Inc. purchased a new stake in shares of United States Cellular during the 2nd quarter worth about $207,000. Invesco LLC acquired a new stake in United States Cellular during the 2nd quarter worth approximately $214,000. Finally, The Manufacturers Life Insurance Company purchased a new position in United States Cellular in the second quarter valued at approximately $218,000. Hedge funds and other institutional investors own 18.03% of the company’s stock.

About United States Cellular

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides wireless devices, such as handsets, tablets, mobile hotspots, home phones, and routers, as well as wireless essentials, including cases, screen protectors, chargers, and memory cards; and consumer electronics comprising audio, home automation, and networking products.