Emerald Acquisition Ltd. acquired a new position in shares of United States Cellular Corp. (NYSE:USM) during the second quarter, Holdings Channel reports. The firm acquired 110,959 shares of the company’s stock, valued at approximately $4,357,000. Emerald Acquisition Ltd. owned approximately 0.13% of United States Cellular Corp. as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in USM. Babson Capital Management LLC bought a new position in shares of United States Cellular Corp. during the first quarter worth approximately $206,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of United States Cellular Corp. during the first quarter worth approximately $210,000. Jacobs Levy Equity Management Inc. raised its position in shares of United States Cellular Corp. by 5.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 5,700 shares of the company’s stock worth $260,000 after buying an additional 300 shares in the last quarter. Palo Capital Inc. bought a new position in shares of United States Cellular Corp. during the second quarter worth approximately $408,000. Finally, Menta Capital LLC raised its position in shares of United States Cellular Corp. by 1.5% in the first quarter. Menta Capital LLC now owns 13,746 shares of the company’s stock worth $628,000 after buying an additional 200 shares in the last quarter. 15.01% of the stock is owned by institutional investors and hedge funds.

United States Cellular Corp. (NYSE:USM) traded down 0.27% on Friday, reaching $36.88. 344,997 shares of the company traded hands. The stock has a 50-day moving average price of $38.42 and a 200-day moving average price of $39.87. United States Cellular Corp. has a 52-week low of $32.72 and a 52-week high of $45.87. The firm has a market cap of $3.13 billion, a P/E ratio of 31.85 and a beta of 0.69.

United States Cellular Corp. (NYSE:USM) last released its earnings results on Friday, August 5th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The business earned $980 million during the quarter, compared to the consensus estimate of $973.14 million. United States Cellular Corp. had a net margin of 2.45% and a return on equity of 2.30%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share. Analysts anticipate that United States Cellular Corp. will post $0.51 earnings per share for the current fiscal year.

Separately, Zacks Investment Research raised shares of United States Cellular Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th.

About United States Cellular Corp.

United States Cellular Corporation (U.S. Cellular) is a provider of wireless telecommunication services. The Company operates all of its wireless operating markets are in the United States. U.S. Cellular provides service to postpaid and prepaid customers from a range of demographic segments. The Company focuses on retail consumers, government and small-to-mid-size business customers in vertical industries, such as construction, retail, professional services and real estate.

5 Day Chart for NYSE:USM

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