Alpine Group USVI LLC Purchases New Shares in United States Cellular Corp (NYSE:USM)

Alpine Group USVI LLC purchased a new stake in shares of United States Cellular Corp (NYSE:USM) during the 3rd quarter, Holdings Channel reports. The fund purchased 7,000 shares of the Wireless communications provider’s stock, valued at approximately $263,000.

A number of other large investors also recently added to or reduced their stakes in USM. Point72 Hong Kong Ltd purchased a new stake in United States Cellular during the 2nd quarter valued at $35,000. Advisor Group Inc. raised its holdings in United States Cellular by 68.5% during the 2nd quarter. Advisor Group Inc. now owns 868 shares of the Wireless communications provider’s stock valued at $39,000 after buying an additional 353 shares during the period. Meeder Asset Management Inc. purchased a new stake in United States Cellular during the 2nd quarter valued at $41,000. Trust Co. of Vermont purchased a new stake in United States Cellular during the 2nd quarter valued at $54,000. Finally, Point72 Asset Management L.P. purchased a new stake in United States Cellular during the 2nd quarter valued at $58,000. Institutional investors own 18.18% of the company’s stock.

In other news, CEO Kenneth R. Meyers sold 15,393 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $37.34, for a total transaction of $574,774.62. Following the transaction, the chief executive officer now owns 40,378 shares of the company’s stock, valued at approximately $1,507,714.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kenneth R. Meyers sold 17,919 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $35.27, for a total value of $632,003.13. Following the transaction, the chief executive officer now directly owns 67,852 shares in the company, valued at approximately $2,393,140.04. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

USM stock traded up $0.50 during midday trading on Friday, reaching $35.79. The company’s stock had a trading volume of 9,995 shares, compared to its average volume of 418,566. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.13 and a current ratio of 2.32. The stock has a fifty day simple moving average of $36.47 and a two-hundred day simple moving average of $43.18. United States Cellular Corp has a 1 year low of $32.78 and a 1 year high of $59.74. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 23.19 and a beta of 0.82.

United States Cellular (NYSE:USM) last released its earnings results on Thursday, August 1st. The Wireless communications provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.06). United States Cellular had a return on equity of 3.46% and a net margin of 3.56%. The business had revenue of $973.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business earned $0.56 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. As a group, analysts forecast that United States Cellular Corp will post 1.51 EPS for the current fiscal year.

A number of research firms have weighed in on USM. JPMorgan Chase & Co. upgraded United States Cellular from an “underweight” rating to a “neutral” rating and set a $46.00 target price on the stock in a research note on Monday, August 5th. Morgan Stanley upgraded United States Cellular from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $44.00 to $64.50 in a research note on Tuesday, June 18th. B. Riley reduced their target price on United States Cellular from $50.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Wells Fargo & Co reduced their target price on United States Cellular from $50.00 to $40.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 6th. Finally, ValuEngine upgraded United States Cellular from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $51.58.

United States Cellular 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.

Further Reading: NASDAQ

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Institutional Ownership by Quarter for United States Cellular (NYSE:USM)

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