Fmr LLC Purchases 8,416 Shares of United States Cellular Co. (NYSE:USM)

Fmr LLC grew its position in shares of United States Cellular Co. (NYSE:USM) by 3.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 247,985 shares of the Wireless communications provider’s stock after buying an additional 8,416 shares during the quarter. Fmr LLC’s holdings in United States Cellular were worth $13,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of USM. Point72 Asset Management L.P. bought a new stake in United States Cellular in the 2nd quarter valued at about $22,394,000. TCW Group Inc. boosted its holdings in United States Cellular by 200.8% in the 2nd quarter. TCW Group Inc. now owns 212,294 shares of the Wireless communications provider’s stock valued at $11,850,000 after purchasing an additional 141,713 shares during the period. Dimensional Fund Advisors LP boosted its holdings in United States Cellular by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,299,323 shares of the Wireless communications provider’s stock valued at $128,349,000 after purchasing an additional 72,843 shares during the period. Algert Global LLC boosted its holdings in United States Cellular by 220.8% in the 2nd quarter. Algert Global LLC now owns 76,726 shares of the Wireless communications provider’s stock valued at $4,283,000 after purchasing an additional 52,806 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in United States Cellular by 28.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 143,021 shares of the Wireless communications provider’s stock valued at $7,816,000 after purchasing an additional 31,934 shares during the period. Institutional investors and hedge funds own 18.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on USM. Raymond James raised shares of United States Cellular from a “market perform” rating to an “outperform” rating and set a $86.00 price objective for the company in a report on Thursday, November 7th. StockNews.com raised shares of United States Cellular from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company upped their price target on shares of United States Cellular from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, November 4th.

United States Cellular Stock Performance

Shares of United States Cellular stock opened at $60.85 on Wednesday. The company has a 50 day moving average of $60.98 and a 200-day moving average of $56.73. The company has a market cap of $5.23 billion, a PE ratio of -169.03 and a beta of 0.48. United States Cellular Co. has a 1-year low of $32.01 and a 1-year high of $68.31. The company has a current ratio of 1.57, a quick ratio of 1.39 and a debt-to-equity ratio of 0.63.

United States Cellular (NYSE:USM) last released its quarterly earnings data on Friday, November 1st. The Wireless communications provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.13. The business had revenue of $922.00 million during the quarter, compared to analysts’ expectations of $940.40 million. United States Cellular had a negative net margin of 0.79% and a positive return on equity of 1.55%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 EPS. As a group, equities research analysts forecast that United States Cellular Co. will post 0.57 earnings per share for the current fiscal year.

United States Cellular Profile

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.