Investors Buy T-Mobile US (TMUS) on Weakness After Insider Selling
Investors purchased shares of T-Mobile US, Inc. (NASDAQ:TMUS) on weakness during trading on Thursday after an insider sold shares in the company. $97.81 million flowed into the stock on the tick-up and $55.75 million flowed out of the stock on the tick-down, for a money net flow of $42.06 million into the stock. Of all equities tracked, T-Mobile US had the 19th highest net in-flow for the day. T-Mobile US traded down ($1.27) for the day and closed at $62.56Specifically, CFO J Braxton Carter II sold 15,000 shares of T-Mobile US stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $62.97, for a total transaction of $944,550.00. Following the completion of the sale, the chief financial officer now owns 163,688 shares in the company, valued at approximately $10,307,433.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.
TMUS has been the subject of several analyst reports. KeyCorp set a $72.00 price target on shares of T-Mobile US and gave the stock a “buy” rating in a research report on Wednesday, October 11th. UBS reissued a “buy” rating and set a $70.00 price objective (down previously from $80.00) on shares of T-Mobile US in a research note on Monday, November 6th. BidaskClub lowered shares of T-Mobile US from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 9th. Deutsche Bank lifted their price objective on shares of T-Mobile US to $72.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Cowen reissued a “buy” rating and set a $70.00 price objective on shares of T-Mobile US in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. T-Mobile US currently has an average rating of “Buy” and a consensus price target of $69.70.
The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $52,813.08, a PE ratio of 28.72, a P/E/G ratio of 1.18 and a beta of 0.29.
T-Mobile US (NASDAQ:TMUS) last announced its quarterly earnings data on Monday, October 23rd. The Wireless communications provider reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.17. The business had revenue of $10.02 billion for the quarter, compared to analyst estimates of $10.01 billion. T-Mobile US had a net margin of 5.55% and a return on equity of 9.99%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share. analysts forecast that T-Mobile US, Inc. will post 2.41 EPS for the current year.
T-Mobile US announced that its Board of Directors has approved a share buyback program on Wednesday, December 6th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the Wireless communications provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of T-Mobile US by 2.6% in the second quarter. Vanguard Group Inc. now owns 15,500,894 shares of the Wireless communications provider’s stock worth $939,664,000 after purchasing an additional 389,328 shares in the last quarter. BlackRock Inc. lifted its position in shares of T-Mobile US by 10.9% in the second quarter. BlackRock Inc. now owns 15,334,976 shares of the Wireless communications provider’s stock worth $929,608,000 after purchasing an additional 1,502,636 shares in the last quarter. Paulson & CO. Inc. lifted its position in shares of T-Mobile US by 46.1% in the second quarter. Paulson & CO. Inc. now owns 6,050,700 shares of the Wireless communications provider’s stock worth $366,793,000 after purchasing an additional 1,910,600 shares in the last quarter. Carmignac Gestion lifted its position in shares of T-Mobile US by 32.1% in the third quarter. Carmignac Gestion now owns 5,844,199 shares of the Wireless communications provider’s stock worth $360,353,000 after purchasing an additional 1,419,024 shares in the last quarter. Finally, State Street Corp lifted its position in shares of T-Mobile US by 5.4% in the second quarter. State Street Corp now owns 5,599,085 shares of the Wireless communications provider’s stock worth $339,409,000 after purchasing an additional 289,120 shares in the last quarter. 34.96% of the stock is currently owned by institutional investors and hedge funds.
About T-Mobile US
T-Mobile US, Inc, together with its subsidiaries, provides mobile communications services in the United States, Puerto Rico, and the U.S. Virgin Islands. The company offers voice, messaging, and data services to approximately 71 million customers in the postpaid, prepaid, and wholesale markets. It also provides wireless devices, including smartphones, tablets, and other mobile communication devices, as well as accessories that are manufactured by various suppliers.
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