United States Cellular Corp (NYSE:USM) Short Interest Update

United States Cellular Corp (NYSE:USM) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 831,500 shares, a decline of 27.0% from the July 31st total of 1,138,500 shares. Based on an average daily trading volume, of 242,700 shares, the short-interest ratio is currently 3.4 days. Currently, 5.4% of the company’s stock are short sold.

In other United States Cellular news, CEO Kenneth R. Meyers sold 17,919 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $35.27, for a total value of $632,003.13. Following the transaction, the chief executive officer now directly owns 67,852 shares of the company’s stock, valued at approximately $2,393,140.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kenneth R. Meyers sold 16,045 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $47.26, for a total value of $758,286.70. Following the completion of the transaction, the chief executive officer now directly owns 99,726 shares in the company, valued at $4,713,050.76. The disclosure for this sale can be found here. Insiders have sold 76,462 shares of company stock worth $3,428,040 over the last three months. 0.62% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atria Investments LLC bought a new stake in shares of United States Cellular during the 2nd quarter worth about $14,501,000. Treasurer of the State of North Carolina boosted its stake in shares of United States Cellular by 15.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 7,489 shares of the Wireless communications provider’s stock worth $335,000 after acquiring an additional 1,020 shares in the last quarter. Prudential PLC boosted its stake in shares of United States Cellular by 9.0% during the 2nd quarter. Prudential PLC now owns 90,253 shares of the Wireless communications provider’s stock worth $4,061,000 after acquiring an additional 7,429 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of United States Cellular by 29.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,388 shares of the Wireless communications provider’s stock worth $107,000 after acquiring an additional 548 shares in the last quarter. Finally, United Services Automobile Association boosted its stake in shares of United States Cellular by 12.4% during the 2nd quarter. United Services Automobile Association now owns 7,870 shares of the Wireless communications provider’s stock worth $352,000 after acquiring an additional 869 shares in the last quarter. Institutional investors own 18.18% of the company’s stock.

USM has been the topic of several research reports. B. Riley dropped their target price on United States Cellular from $50.00 to $42.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Morgan Stanley raised United States Cellular from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $44.00 to $64.50 in a research report on Tuesday, June 18th. Wells Fargo & Co dropped their target price on United States Cellular from $50.00 to $40.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 6th. JPMorgan Chase & Co. raised United States Cellular from an “underweight” rating to a “neutral” rating and set a $46.00 target price on the stock in a research report on Monday, August 5th. Finally, ValuEngine lowered United States Cellular from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $51.58.

USM stock traded down $0.79 during mid-day trading on Friday, hitting $39.08. The stock had a trading volume of 157,249 shares, compared to its average volume of 232,783. The company has a current ratio of 2.32, a quick ratio of 2.13 and a debt-to-equity ratio of 0.59. United States Cellular has a 1-year low of $33.54 and a 1-year high of $59.74. The company has a fifty day moving average of $38.22 and a 200 day moving average of $44.60. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 25.61 and a beta of 0.83.

United States Cellular (NYSE:USM) last released its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.06). The company had revenue of $973.00 million for the quarter, compared to the consensus estimate of $1.01 billion. United States Cellular had a return on equity of 3.46% and a net margin of 3.56%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 EPS. As a group, sell-side analysts expect that United States Cellular will post 1.51 earnings per share for the current fiscal year.

United States Cellular Company Profile

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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