Gabelli Funds LLC Reduces Stock Position in United States Cellular Co. (NYSE:USM)

Gabelli Funds LLC lessened its stake in shares of United States Cellular Co. (NYSE:USM) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 649,700 shares of the Wireless communications provider’s stock after selling 5,600 shares during the period. Gabelli Funds LLC owned 0.76% of United States Cellular worth $26,989,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of USM. Quest Partners LLC acquired a new position in shares of United States Cellular in the 4th quarter valued at $43,000. Bfsg LLC acquired a new stake in shares of United States Cellular during the fourth quarter valued at about $137,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of United States Cellular in the 3rd quarter valued at approximately $149,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of United States Cellular by 32.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,580 shares of the Wireless communications provider’s stock worth $190,000 after acquiring an additional 1,117 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new position in shares of United States Cellular during the 3rd quarter worth approximately $206,000. Institutional investors and hedge funds own 18.03% of the company’s stock.

United States Cellular Stock Down 2.7 %

Shares of NYSE USM traded down $1.63 during mid-day trading on Wednesday, hitting $57.86. The company had a trading volume of 273,881 shares, compared to its average volume of 291,730. The company has a market capitalization of $4.92 billion, a PE ratio of 86.01 and a beta of 0.52. The business’s 50-day simple moving average is $40.06 and its 200 day simple moving average is $40.18. United States Cellular Co. has a 1-year low of $14.15 and a 1-year high of $60.14. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.46.

United States Cellular (NYSE:USM) last announced its quarterly earnings data on Friday, May 3rd. The Wireless communications provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.06). United States Cellular had a net margin of 1.55% and a return on equity of 1.30%. The company had revenue of $950.00 million during the quarter, compared to analysts’ expectations of $957.75 million. During the same quarter in the previous year, the business posted $0.15 EPS. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, analysts predict that United States Cellular Co. will post 0.58 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on United States Cellular from $51.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Wells Fargo & Company raised United States Cellular from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $38.00 to $75.00 in a research note on Thursday, May 30th.

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.