Victory Capital Management Inc. Grows Stock Holdings in United States Cellular Co. (NYSE:USM)

Victory Capital Management Inc. raised its stake in shares of United States Cellular Co. (NYSE:USM) by 8.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,475 shares of the Wireless communications provider’s stock after acquiring an additional 994 shares during the period. Victory Capital Management Inc.’s holdings in United States Cellular were worth $696,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in USM. Summit Securities Group LLC purchased a new stake in shares of United States Cellular during the second quarter worth approximately $28,000. Quest Partners LLC purchased a new position in United States Cellular during the 4th quarter worth $43,000. Clear Street Markets LLC acquired a new stake in shares of United States Cellular in the 4th quarter worth $105,000. SG Americas Securities LLC purchased a new stake in shares of United States Cellular in the second quarter valued at about $115,000. Finally, Bailard Inc. acquired a new position in shares of United States Cellular during the second quarter worth about $207,000. 18.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other United States Cellular news, EVP Kevin R. Lowell sold 37,597 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.34, for a total value of $1,855,035.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

United States Cellular Stock Performance

Shares of USM opened at $55.13 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.55 and a debt-to-equity ratio of 0.62. United States Cellular Co. has a 52-week low of $32.01 and a 52-week high of $60.14. The company has a 50-day simple moving average of $54.41 and a 200-day simple moving average of $47.50. The company has a market capitalization of $4.69 billion, a PE ratio of 82.28 and a beta of 0.48.

United States Cellular (NYSE:USM) last issued its earnings results on Friday, August 2nd. The Wireless communications provider reported $0.20 earnings per share (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 analysts’ expectations of $924.96 million. United States Cellular had a net margin of 1.88% and a return on equity of 1.55%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. Equities research analysts predict that United States Cellular Co. will post 0.61 earnings per share for the current fiscal year.

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.