United States Cellular (NYSE:USM) Shares Up 7.4%

United States Cellular Co. (NYSE:USM)’s stock price rose 7.4% during mid-day trading on Monday . The company traded as high as $37.06 and last traded at $36.63. Approximately 55,321 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 215,230 shares. The stock had previously closed at $34.10.

United States Cellular Price Performance

The company’s 50-day simple moving average is $35.51 and its 200 day simple moving average is $39.72. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 53.90 and a beta of 0.45. The company has a quick ratio of 1.33, a current ratio of 1.55 and a debt-to-equity ratio of 0.66.

United States Cellular (NYSE:USM) last issued its quarterly earnings data on Friday, May 3rd. The Wireless communications provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.06). United States Cellular had a net margin of 1.55% and a return on equity of 1.30%. The company had revenue of $950.00 million during the quarter, compared to the consensus estimate of $957.75 million. During the same period in the previous year, the business posted $0.15 earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. Equities research analysts forecast that United States Cellular Co. will post 0.74 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of USM. Jericho Capital Asset Management L.P. bought a new stake in United States Cellular during the third quarter valued at about $51,753,000. Third Point LLC acquired a new stake in United States Cellular in the 3rd quarter valued at approximately $23,433,000. Loomis Sayles & Co. L P increased its position in United States Cellular by 101.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 725,714 shares of the Wireless communications provider’s stock worth $31,184,000 after buying an additional 365,863 shares during the period. Invesco Ltd. acquired a new position in shares of United States Cellular during the third quarter worth approximately $11,395,000. Finally, FMR LLC boosted its position in shares of United States Cellular by 289.6% in the third quarter. FMR LLC now owns 250,473 shares of the Wireless communications provider’s stock valued at $10,763,000 after acquiring an additional 186,183 shares during the period. 18.03% of the stock is currently owned by institutional investors and hedge funds.

United States Cellular Company 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.