United States Cellular Co. (NYSE:USM) Shares Sold by Private Management Group Inc.

Private Management Group Inc. trimmed its holdings in shares of United States Cellular Co. (NYSE:USM) by 63.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 95,638 shares of the Wireless communications provider’s stock after selling 166,815 shares during the period. Private Management Group Inc.’s holdings in United States Cellular were worth $3,491,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in shares of United States Cellular by 5.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,166,357 shares of the Wireless communications provider’s stock worth $89,991,000 after buying an additional 104,911 shares during the period. Edmond DE Rothschild Holding S.A. raised its stake in United States Cellular by 22.0% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 360,000 shares of the Wireless communications provider’s stock valued at $13,140,000 after purchasing an additional 65,000 shares during the last quarter. American Century Companies Inc. raised its stake in United States Cellular by 6.3% in the 3rd quarter. American Century Companies Inc. now owns 201,046 shares of the Wireless communications provider’s stock valued at $8,639,000 after purchasing an additional 11,960 shares during the last quarter. Empowered Funds LLC raised its stake in United States Cellular by 8.3% in the 1st quarter. Empowered Funds LLC now owns 190,665 shares of the Wireless communications provider’s stock valued at $6,959,000 after purchasing an additional 14,678 shares during the last quarter. Finally, Significant Wealth Partners LLC acquired a new position in United States Cellular in the 4th quarter valued at $1,918,000. 18.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on USM. Wells Fargo & Company raised United States Cellular from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $38.00 to $75.00 in a research note on Thursday, May 30th. JPMorgan Chase & Co. increased their price objective on United States Cellular from $51.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th.

United States Cellular Trading Down 0.6 %

Shares of USM traded down $0.35 during midday trading on Thursday, reaching $57.19. The company had a trading volume of 309,695 shares, compared to its average volume of 274,053. United States Cellular Co. has a 1-year low of $16.95 and a 1-year high of $60.14. The stock has a market cap of $4.86 billion, a PE ratio of 85.99 and a beta of 0.53. The firm has a 50 day simple moving average of $52.06 and a 200-day simple moving average of $42.94. The company has a quick ratio of 1.46, a current ratio of 1.67 and a debt-to-equity ratio of 0.65.

United States Cellular (NYSE:USM) last issued its earnings results on Friday, May 3rd. The Wireless communications provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.06). United States Cellular had a return on equity of 1.30% and a net margin of 1.55%. The company had revenue of $950.00 million during the quarter, compared to analyst estimates of $957.75 million. During the same period last year, the business earned $0.15 earnings per share. The firm’s revenue was down 3.7% compared to the same quarter last year. Research analysts forecast that United States Cellular Co. will post 0.49 EPS for the current fiscal year.

About United States Cellular

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.