Balyasny Asset Management L.P. Buys New Shares in United States Cellular Co. (NYSE:USM)

Balyasny Asset Management L.P. purchased a new position in shares of United States Cellular Co. (NYSE:USM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,797 shares of the Wireless communications provider’s stock, valued at approximately $740,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of United States Cellular during the fourth quarter worth about $38,000. Amundi grew its position in shares of United States Cellular by 17.6% during the fourth quarter. Amundi now owns 1,628 shares of the Wireless communications provider’s stock worth $99,000 after buying an additional 244 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in United States Cellular by 37.6% during the 4th quarter. BNP Paribas Financial Markets now owns 1,657 shares of the Wireless communications provider’s stock worth $104,000 after acquiring an additional 453 shares in the last quarter. Venturi Wealth Management LLC grew its stake in United States Cellular by 1,917.3% in the fourth quarter. Venturi Wealth Management LLC now owns 2,219 shares of the Wireless communications provider’s stock worth $139,000 after purchasing an additional 2,109 shares in the last quarter. Finally, Vestcor Inc acquired a new position in shares of United States Cellular in the 4th quarter worth approximately $187,000. Institutional investors and hedge funds own 18.03% of the company’s stock.

Analyst Ratings Changes

USM has been the topic of several analyst reports. StockNews.com upgraded United States Cellular from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Raymond James reaffirmed an “outperform” rating and set a $78.00 price objective (down from $83.00) on shares of United States Cellular in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. increased their target price on United States Cellular from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, February 24th.

United States Cellular Stock Up 1.0%

USM opened at $60.44 on Thursday. The company has a market capitalization of $5.14 billion, a PE ratio of -167.88 and a beta of 0.39. The business has a 50-day moving average of $65.85 and a 200-day moving average of $64.19. United States Cellular Co. has a fifty-two week low of $41.25 and a fifty-two week high of $70.79. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.57 and a quick ratio of 1.39.

United States Cellular (NYSE:USM) last issued its quarterly earnings data on Friday, May 2nd. The Wireless communications provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.16). The business had revenue of $891.00 million during the quarter, compared to the consensus estimate of $924.90 million. United States Cellular had a positive return on equity of 1.55% and a negative net margin of 0.79%. Equities research analysts forecast that United States Cellular Co. will post 0.57 EPS 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.