401,176 Shares in United States Cellular Co. (NYSE:USM) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new stake in United States Cellular Co. (NYSE:USM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 401,176 shares of the Wireless communications provider’s stock, valued at approximately $22,394,000.

Several other hedge funds have also recently modified their holdings of USM. Summit Securities Group LLC purchased a new stake in shares of United States Cellular during the second quarter valued at approximately $28,000. Trexquant Investment LP increased its position in shares of United States Cellular by 7.2% during the 4th quarter. Trexquant Investment LP now owns 12,598 shares of the Wireless communications provider’s stock valued at $523,000 after purchasing an additional 850 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of United States Cellular by 8.7% during the 2nd quarter. Victory Capital Management Inc. now owns 12,475 shares of the Wireless communications provider’s stock worth $696,000 after purchasing an additional 994 shares during the period. Quest Partners LLC purchased a new position in shares of United States Cellular in the 4th quarter worth about $43,000. Finally, SG Americas Securities LLC bought a new position in United States Cellular during the second quarter valued at about $115,000. Institutional investors own 18.03% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised shares of United States Cellular from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $38.00 to $75.00 in a research report on Thursday, May 30th.

Insider Activity

In related news, EVP Kevin R. Lowell sold 37,597 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.34, for a total value of $1,855,035.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

United States Cellular Stock Performance

Shares of USM opened at $56.91 on Friday. United States Cellular Co. has a 1 year low of $32.01 and a 1 year high of $60.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.55 and a quick ratio of 1.39. The stock’s fifty day moving average price is $54.27 and its two-hundred day moving average price is $48.00. The firm has a market cap of $4.89 billion, a PE ratio of 84.94 and a beta of 0.48.

United States Cellular (NYSE:USM) last announced its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $927.00 million during the quarter, compared to analyst estimates of $924.96 million. United States Cellular had a return on equity of 1.55% and a net margin of 1.88%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 EPS. On average, equities research analysts forecast that United States Cellular Co. will post 0.61 EPS for the current 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.