Tyers Asset Management LLC raised its holdings in United States Cellular Corp (NYSE:USM) by 154.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,412 shares of the Wireless communications provider’s stock after purchasing an additional 16,654 shares during the quarter. Tyers Asset Management LLC’s holdings in United States Cellular were worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in USM. Norges Bank bought a new position in United States Cellular in the 4th quarter valued at $15,669,000. Acadian Asset Management LLC grew its stake in United States Cellular by 37.4% in the 4th quarter. Acadian Asset Management LLC now owns 745,055 shares of the Wireless communications provider’s stock valued at $38,720,000 after purchasing an additional 202,752 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in United States Cellular by 280.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 228,867 shares of the Wireless communications provider’s stock valued at $10,507,000 after purchasing an additional 168,639 shares during the period. Mackay Shields LLC grew its stake in United States Cellular by 220.6% in the 4th quarter. Mackay Shields LLC now owns 175,107 shares of the Wireless communications provider’s stock valued at $9,100,000 after purchasing an additional 120,493 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in United States Cellular by 230,505.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 87,630 shares of the Wireless communications provider’s stock valued at $4,554,000 after purchasing an additional 87,592 shares during the period. Hedge funds and other institutional investors own 16.95% of the company’s stock.
USM traded down $1.29 on Friday, hitting $43.38. 2,085 shares of the company were exchanged, compared to its average volume of 162,234. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.29 and a quick ratio of 2.10. United States Cellular Corp has a 12 month low of $32.33 and a 12 month high of $59.74. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 34.64 and a beta of 0.73.
In related news, insider Kenneth R. Meyers sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $44.05, for a total transaction of $1,321,500.00. Following the transaction, the insider now directly owns 100,632 shares in the company, valued at approximately $4,432,839.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director J Samuel Crowley sold 2,115 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $47.39, for a total value of $100,229.85. Following the transaction, the director now owns 4,648 shares in the company, valued at $220,268.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,338 shares of company stock worth $2,623,180. 0.62% of the stock is owned by corporate insiders.
A number of brokerages have issued reports on USM. Zacks Investment Research upgraded United States Cellular from a “strong sell” rating to a “hold” rating in a research note on Friday, April 26th. Raymond James reduced their price objective on United States Cellular from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Finally, B. Riley set a $50.00 price target on United States Cellular and gave the company a “hold” rating in a research report on Tuesday, February 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $52.20.
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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