Pinnacle Financial Partners Inc. Invests $287,000 in T-Mobile US, Inc. (TMUS)
Pinnacle Financial Partners Inc. acquired a new stake in T-Mobile US, Inc. (NASDAQ:TMUS) during the second quarter, Holdings Channel reports. The fund acquired 4,735 shares of the Wireless communications provider’s stock, valued at approximately $287,000.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of T-Mobile US by 3,998.0% in the first quarter. BlackRock Inc. now owns 13,832,340 shares of the Wireless communications provider’s stock valued at $893,431,000 after buying an additional 13,494,802 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of T-Mobile US during the first quarter valued at $298,008,000. Paulson & CO. Inc. purchased a new stake in shares of T-Mobile US during the first quarter valued at $267,409,000. OZ Management LP purchased a new stake in shares of T-Mobile US during the first quarter valued at $82,521,000. Finally, Harbour Capital Advisors LLC boosted its stake in shares of T-Mobile US by 5,817.2% in the second quarter. Harbour Capital Advisors LLC now owns 1,201,792 shares of the Wireless communications provider’s stock valued at $19,825,000 after buying an additional 1,181,482 shares in the last quarter. 35.89% of the stock is owned by hedge funds and other institutional investors.
T-Mobile US, Inc. (NASDAQ:TMUS) opened at 63.78 on Tuesday. The firm has a market capitalization of $53.00 billion, a price-to-earnings ratio of 27.03 and a beta of 0.49. The company has a 50 day moving average price of $61.98 and a 200 day moving average price of $63.62. T-Mobile US, Inc. has a 12 month low of $44.35 and a 12 month high of $68.88.
T-Mobile US (NASDAQ:TMUS) last issued its earnings results on Wednesday, July 19th. The Wireless communications provider reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.29. The business had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $9.82 billion. T-Mobile US had a return on equity of 8.66% and a net margin of 5.19%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. Analysts anticipate that T-Mobile US, Inc. will post $2.32 earnings per share for the current fiscal year.
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Several analysts have weighed in on TMUS shares. Goldman Sachs Group, Inc. (The) raised T-Mobile US from a “buy” rating to a “conviction-buy” rating and dropped their price objective for the stock from $81.00 to $65.72 in a report on Friday, May 19th. SunTrust Banks, Inc. started coverage on T-Mobile US in a report on Tuesday, April 18th. They set a “buy” rating and a $76.00 price objective for the company. Deutsche Bank AG reissued a “hold” rating and set a $70.00 price objective (up from $69.00) on shares of T-Mobile US in a report on Friday, July 14th. Jefferies Group LLC boosted their price objective on T-Mobile US from $71.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Finally, Wells Fargo & Company reissued an “outperform” rating on shares of T-Mobile US in a report on Wednesday, April 26th. Eleven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. T-Mobile US currently has a consensus rating of “Buy” and a consensus price target of $68.82.
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