United States Cellular Co. (NYSE:USM) Holdings Lowered by Dark Forest Capital Management LP

Dark Forest Capital Management LP trimmed its stake in shares of United States Cellular Co. (NYSE:USM) by 63.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,205 shares of the Wireless communications provider’s stock after selling 28,240 shares during the quarter. Dark Forest Capital Management LP’s holdings in United States Cellular were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Summit Securities Group LLC bought a new stake in shares of United States Cellular during the 2nd quarter worth about $28,000. Trexquant Investment LP raised 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 worth $523,000 after buying an additional 850 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of United States Cellular by 8.7% in 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 in the last quarter. Quest Partners LLC bought a new stake in shares of United States Cellular in the 4th quarter worth approximately $43,000. Finally, SG Americas Securities LLC bought a new stake in shares of United States Cellular in the 2nd quarter worth approximately $115,000. 18.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

United States Cellular Stock Up 0.9 %

NYSE USM opened at $56.91 on Friday. 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 company’s 50 day simple moving average is $54.27 and its 200 day simple moving average is $48.00. United States Cellular Co. has a 12 month low of $32.01 and a 12 month high of $60.14. The company has a market capitalization of $4.89 billion, a P/E ratio of 84.94 and a beta of 0.48.

United States Cellular (NYSE:USM) last released its earnings results on Friday, August 2nd. The Wireless communications provider reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $924.96 million. United States Cellular had a net margin of 1.88% and a return on equity of 1.55%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 EPS. Equities research analysts expect that United States Cellular Co. will post 0.61 earnings per share for the current fiscal year.

Insider Transactions at United States Cellular

In other news, EVP Kevin R. Lowell sold 37,597 shares of United States Cellular 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 SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

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.