Arizona State Retirement System Buys New Shares in United States Cellular Co. (NYSE:USM)

Arizona State Retirement System bought a new stake in United States Cellular Co. (NYSE:USM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,390 shares of the Wireless communications provider’s stock, valued at approximately $245,000.

Several other hedge funds have also recently made changes to their positions in USM. Summit Securities Group LLC acquired a new stake in United States Cellular during the 2nd quarter worth about $28,000. Quest Partners LLC acquired a new stake in United States Cellular during the 4th quarter worth about $43,000. Clear Street Markets LLC acquired a new stake in United States Cellular during the 4th quarter worth about $105,000. SG Americas Securities LLC acquired a new stake in United States Cellular during the 2nd quarter worth about $115,000. Finally, Bailard Inc. acquired a new stake in United States Cellular during the 2nd quarter worth about $207,000. 18.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

United States Cellular Trading Down 1.9 %

Shares of United States Cellular stock opened at $56.55 on Wednesday. The firm has a market capitalization of $4.81 billion, a PE ratio of 86.07 and a beta of 0.48. United States Cellular Co. has a twelve month low of $32.01 and a twelve month high of $60.14. The firm’s 50-day moving average price is $54.43 and its 200 day moving average price is $46.99. The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 0.62.

United States Cellular (NYSE:USM) last released its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $924.96 million. United States Cellular had a net margin of 1.88% and a return on equity of 1.55%. United States Cellular’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS. On average, sell-side analysts predict that United States Cellular Co. will post 0.61 EPS for the current fiscal year.

Insider Buying and Selling at United States Cellular

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

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.