Cannon Global Investment Management LLC Invests $522,000 in United States Cellular Co. (NYSE:USM)

Cannon Global Investment Management LLC bought a new position in shares of United States Cellular Co. (NYSE:USM) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 14,300 shares of the Wireless communications provider’s stock, valued at approximately $522,000. United States Cellular accounts for approximately 1.4% of Cannon Global Investment Management LLC’s holdings, making the stock its 22nd biggest holding.

Several other institutional investors also recently modified their holdings of the stock. Quest Partners LLC acquired a new position in shares of United States Cellular in the 4th quarter valued at approximately $43,000. Clear Street Markets LLC acquired a new position in shares of United States Cellular in the 4th quarter valued at approximately $105,000. Bfsg LLC acquired a new position in shares of United States Cellular in the 4th quarter valued at approximately $137,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of United States Cellular by 32.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,580 shares of the Wireless communications provider’s stock valued at $190,000 after purchasing an additional 1,117 shares during the period. Finally, Graham Capital Management L.P. bought a new stake in United States Cellular in the 3rd quarter valued at approximately $228,000. 18.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

USM has been the topic of several research reports. Wells Fargo & Company upgraded United States Cellular from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $38.00 to $75.00 in a research note on Thursday, May 30th. JPMorgan Chase & Co. boosted their target price on United States Cellular from $51.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th.

United States Cellular Stock Down 0.2 %

Shares of United States Cellular stock traded down $0.13 on Friday, reaching $55.82. 309,432 shares of the company were exchanged, compared to its average volume of 301,684. United States Cellular Co. has a one year low of $15.64 and a one year high of $60.14. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 83.31 and a beta of 0.52. The company has a current ratio of 1.67, a quick ratio of 1.46 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average of $46.77 and a 200 day moving average of $41.51.

United States Cellular (NYSE:USM) last announced its quarterly earnings data on Friday, May 3rd. The Wireless communications provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.06). United States Cellular had a return on equity of 1.30% and a net margin of 1.55%. The company had revenue of $950.00 million for the quarter, compared to the consensus estimate of $957.75 million. During the same quarter in the prior year, the company earned $0.15 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities research analysts forecast that United States Cellular Co. will post 0.58 earnings per share for the current year.

About United States Cellular

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.