Private Management Group Inc. Sells 35,715 Shares of United States Cellular Co. (NYSE:USM)

Private Management Group Inc. trimmed its holdings in shares of United States Cellular Co. (NYSE:USM) by 88.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,832 shares of the Wireless communications provider’s stock after selling 35,715 shares during the quarter. Private Management Group Inc.’s holdings in United States Cellular were worth $264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in USM. Creative Planning boosted its stake in shares of United States Cellular by 12.4% during the 3rd quarter. Creative Planning now owns 7,238 shares of the Wireless communications provider’s stock worth $396,000 after acquiring an additional 800 shares during the last quarter. SG Americas Securities LLC lifted its position in United States Cellular by 130.3% during the third quarter. SG Americas Securities LLC now owns 4,762 shares of the Wireless communications provider’s stock valued at $260,000 after purchasing an additional 2,694 shares in the last quarter. Algert Global LLC grew its holdings in United States Cellular by 220.8% during the second quarter. Algert Global LLC now owns 76,726 shares of the Wireless communications provider’s stock valued at $4,283,000 after purchasing an additional 52,806 shares during the period. Mackenzie Financial Corp purchased a new stake in United States Cellular in the second quarter worth about $420,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of United States Cellular in the second quarter worth about $218,000. 18.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Kevin R. Lowell sold 37,597 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.34, for a total transaction of $1,855,035.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

United States Cellular Trading Down 6.8 %

Shares of NYSE:USM opened at $57.49 on Friday. United States Cellular Co. has a 12-month low of $32.01 and a 12-month high of $67.84. The company has a market cap of $4.94 billion, a PE ratio of 70.11 and a beta of 0.47. The stock has a 50 day moving average of $57.11 and a 200 day moving average of $52.06. 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 announced its quarterly earnings data on Friday, November 1st. The Wireless communications provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. The firm had revenue of $922.00 million during the quarter, compared to analysts’ expectations of $940.40 million. United States Cellular had a net margin of 1.88% and a return on equity of 1.55%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 earnings per share. As a group, equities research analysts expect that United States Cellular Co. will post 0.61 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.