Geode Capital Management LLC Acquires 7,449 Shares of United States Cellular Co. (NYSE:USM)

Geode Capital Management LLC boosted its holdings in United States Cellular Co. (NYSE:USM) by 4.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 166,181 shares of the Wireless communications provider’s stock after purchasing an additional 7,449 shares during the period. Geode Capital Management LLC’s holdings in United States Cellular were worth $9,085,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Point72 Asset Management L.P. bought a new stake in shares of United States Cellular in the 2nd quarter valued at about $22,394,000. Dimensional Fund Advisors LP increased its stake in United States Cellular by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,299,323 shares of the Wireless communications provider’s stock worth $128,349,000 after purchasing an additional 72,843 shares during the period. Algert Global LLC lifted its position in United States Cellular by 220.8% in the second quarter. Algert Global LLC now owns 76,726 shares of the Wireless communications provider’s stock valued at $4,283,000 after purchasing an additional 52,806 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of United States Cellular by 28.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 143,021 shares of the Wireless communications provider’s stock valued at $7,816,000 after purchasing an additional 31,934 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of United States Cellular by 8.7% in the second quarter. American Century Companies Inc. now owns 327,931 shares of the Wireless communications provider’s stock worth $18,305,000 after purchasing an additional 26,369 shares during the last quarter. 18.03% of the stock is currently owned by hedge funds and other institutional investors.

United States Cellular Price Performance

Shares of United States Cellular stock opened at $62.72 on Thursday. The business has a 50 day moving average of $62.52 and a 200 day moving average of $57.72. United States Cellular Co. has a 52 week low of $32.01 and a 52 week high of $68.31. The company has a market cap of $5.39 billion, a PE ratio of -174.22 and a beta of 0.48. The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 0.63.

United States Cellular (NYSE:USM) last issued its quarterly earnings data on Friday, November 1st. The Wireless communications provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.13 by $0.13. The business had revenue of $922.00 million during the quarter, compared to analyst estimates of $940.40 million. United States Cellular had a negative net margin of 0.79% and a positive return on equity of 1.55%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 EPS. As a group, equities research analysts forecast that United States Cellular Co. will post 0.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on USM. Wells Fargo & Company upped their price target on shares of United States Cellular from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, November 4th. StockNews.com upgraded shares of United States Cellular from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Raymond James upgraded shares of United States Cellular from a “market perform” rating to an “outperform” rating and set a $86.00 target price for the company in a report on Thursday, November 7th.

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.