Gabelli Funds LLC Grows Stock Holdings in United States Cellular Co. (NYSE:USM)

Gabelli Funds LLC boosted its holdings in United States Cellular Co. (NYSE:USM) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 680,300 shares of the Wireless communications provider’s stock after buying an additional 20,785 shares during the period. Gabelli Funds LLC owned approximately 0.79% of United States Cellular worth $37,974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Summit Securities Group LLC purchased a new position in United States Cellular in the 2nd quarter valued at approximately $28,000. Trexquant Investment LP grew its position in shares of United States Cellular by 7.2% during the 4th quarter. Trexquant Investment LP now owns 12,598 shares of the Wireless communications provider’s stock valued at $523,000 after purchasing an additional 850 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of United States Cellular by 8.7% during the 2nd quarter. Victory Capital Management Inc. now owns 12,475 shares of the Wireless communications provider’s stock valued at $696,000 after purchasing an additional 994 shares in the last quarter. Quest Partners LLC purchased a new position in shares of United States Cellular during the 4th quarter valued at $43,000. Finally, SG Americas Securities LLC purchased a new position in shares of United States Cellular during the 2nd quarter valued at $115,000. 18.03% of the stock is currently owned by hedge funds and other institutional investors.

United States Cellular Stock Performance

NYSE USM opened at $55.13 on Friday. United States Cellular Co. has a 52-week low of $32.01 and a 52-week high of $60.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 1.55. The company has a market capitalization of $4.69 billion, a P/E ratio of 82.28 and a beta of 0.48. The company has a fifty day moving average of $54.41 and a 200-day moving average of $47.50.

United States Cellular (NYSE:USM) last posted its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. United States Cellular had a net margin of 1.88% and a return on equity of 1.55%. The company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $924.96 million. During the same period in the previous year, the firm posted $0.05 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, equities research analysts predict that United States Cellular Co. will post 0.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Transactions at United States Cellular

In other news, EVP Kevin R. Lowell sold 37,597 shares of United States Cellular stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.34, for a total transaction of $1,855,035.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

United States Cellular Company 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.