Cinctive Capital Management LP Buys 2,487 Shares of United States Cellular Co. (NYSE:USM)

Cinctive Capital Management LP raised its stake in shares of United States Cellular Co. (NYSE:USM) by 20.3% in the 3rd quarter, Holdings Channel reports. The firm owned 14,712 shares of the Wireless communications provider’s stock after acquiring an additional 2,487 shares during the period. Cinctive Capital Management LP’s holdings in United States Cellular were worth $804,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of United States Cellular in the second quarter valued at $115,000. Welch Group LLC purchased a new position in shares of United States Cellular in the 2nd quarter worth $614,000. TCW Group Inc. increased its holdings in shares of United States Cellular by 200.8% in the 2nd quarter. TCW Group Inc. now owns 212,294 shares of the Wireless communications provider’s stock worth $11,850,000 after buying an additional 141,713 shares during the last quarter. Bailard Inc. purchased a new stake in shares of United States Cellular during the 2nd quarter valued at about $207,000. Finally, Summit Securities Group LLC purchased a new stake in shares of United States Cellular during the 2nd quarter valued at about $28,000. Institutional investors own 18.03% of the company’s stock.

Analyst Upgrades and Downgrades

USM has been the topic of several analyst reports. Raymond James raised United States Cellular from a “market perform” rating to an “outperform” rating and set a $86.00 price objective on the stock in a research note on Thursday, November 7th. Wells Fargo & Company boosted their target price on United States Cellular from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, StockNews.com upgraded United States Cellular from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th.

United States Cellular Stock Performance

United States Cellular stock opened at $63.33 on Wednesday. United States Cellular Co. has a 1-year low of $32.01 and a 1-year high of $68.31. The company’s 50-day moving average is $60.34 and its 200 day moving average is $56.06. The firm has a market capitalization of $5.45 billion, a P/E ratio of -175.90 and a beta of 0.48. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.57 and a quick ratio of 1.39.

United States Cellular (NYSE:USM) last issued its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.13. The firm had revenue of $922.00 million during the quarter, compared to analyst estimates of $940.40 million. United States Cellular had a positive return on equity of 1.55% and a negative net margin of 0.79%. United States Cellular’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company earned $0.26 EPS. Research analysts forecast that United States Cellular Co. will post 0.57 EPS for the current 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.