Russell Investments Group Ltd. Reduces Stake in United States Cellular Corp (USM)

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Russell Investments Group Ltd. trimmed its stake in shares of United States Cellular Corp (NYSE:USM) by 23.0% during the third quarter, HoldingsChannel.com reports. The firm owned 65,642 shares of the Wireless communications provider’s stock after selling 19,588 shares during the period. Russell Investments Group Ltd.’s holdings in United States Cellular were worth $2,898,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its position in shares of United States Cellular by 241.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,075 shares of the Wireless communications provider’s stock worth $188,000 after purchasing an additional 3,588 shares during the period. Capital Fund Management S.A. acquired a new stake in shares of United States Cellular during the 2nd quarter worth approximately $222,000. People s United Financial Inc. acquired a new stake in shares of United States Cellular during the 2nd quarter worth approximately $257,000. GSA Capital Partners LLP acquired a new stake in shares of United States Cellular during the 2nd quarter worth approximately $265,000. Finally, Calamos Advisors LLC acquired a new stake in shares of United States Cellular during the 3rd quarter worth approximately $332,000. Institutional investors and hedge funds own 16.01% of the company’s stock.

In related news, CEO Kenneth R. Meyers sold 12,614 shares of the stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $56.70, for a total value of $715,213.80. Following the completion of the transaction, the chief executive officer now directly owns 126,947 shares of the company’s stock, valued at approximately $7,197,894.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kenneth R. Meyers sold 35,000 shares of the stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $57.11, for a total value of $1,998,850.00. Following the completion of the transaction, the insider now directly owns 126,947 shares of the company’s stock, valued at $7,249,943.17. The disclosure for this sale can be found here. Insiders sold a total of 85,250 shares of company stock valued at $4,668,254 over the last three months. Corporate insiders own 1.60% of the company’s stock.

A number of analysts have recently weighed in on USM shares. ValuEngine upgraded United States Cellular from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Citigroup increased their price target on United States Cellular from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Zacks Investment Research cut United States Cellular from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 8th. B. Riley reissued a “neutral” rating and issued a $53.00 price objective on shares of United States Cellular in a report on Thursday, November 1st. Finally, Raymond James increased their price objective on United States Cellular from $43.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, November 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $51.00.

Shares of USM stock opened at $55.86 on Friday. United States Cellular Corp has a 12-month low of $32.06 and a 12-month high of $58.44. The company has a market capitalization of $4.90 billion, a P/E ratio of 96.31, a price-to-earnings-growth ratio of 35.14 and a beta of 0.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.71 and a quick ratio of 2.53.

United States Cellular (NYSE:USM) last issued its quarterly earnings data on Friday, November 2nd. The Wireless communications provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.17. United States Cellular had a return on equity of 3.05% and a net margin of 10.21%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $993.91 million. During the same period in the prior year, the company posted $0.11 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts forecast that United States Cellular Corp will post 1.62 EPS for the current fiscal year.

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About United States Cellular

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers postpaid and prepaid service plans with voice, messaging, and data usage option services; and smartphone messaging, data, and Internet services, which allow the customer to access the Web and social network sites, e-mail, text, picture, and video messaging, as well as to utilize GPS navigation, and browse and download various applications.

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Institutional Ownership by Quarter for United States Cellular (NYSE:USM)

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