Algert Global LLC Lowers Holdings in United States Cellular Co. (NYSE:USM)

Algert Global LLC reduced its position in shares of United States Cellular Co. (NYSE:USM) by 9.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 69,290 shares of the Wireless communications provider’s stock after selling 7,436 shares during the period. Algert Global LLC’s holdings in United States Cellular were worth $3,787,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Summit Securities Group LLC purchased a new position in shares of United States Cellular during the second quarter valued at $28,000. SG Americas Securities LLC purchased a new position in United States Cellular during the 2nd quarter valued at about $115,000. Bailard Inc. bought a new stake in shares of United States Cellular in the 2nd quarter valued at about $207,000. Invesco LLC purchased a new stake in shares of United States Cellular in the 2nd quarter worth approximately $214,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of United States Cellular during the second quarter valued at approximately $218,000. 18.03% of the stock is owned by institutional investors.

United States Cellular Price Performance

Shares of USM opened at $63.83 on Tuesday. The company has a 50 day moving average of $59.27 and a two-hundred day moving average of $55.15. The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 0.63. United States Cellular Co. has a twelve month low of $32.01 and a twelve month high of $68.31. The company has a market cap of $5.49 billion, a price-to-earnings ratio of -177.30 and a beta of 0.47.

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 for the quarter, topping the consensus estimate of $0.13 by $0.13. United States Cellular had a positive return on equity of 1.55% and a negative net margin of 0.79%. The business had revenue of $922.00 million during the quarter, compared to the consensus estimate of $940.40 million. During the same quarter last year, the company earned $0.26 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, analysts predict that United States Cellular Co. will post 0.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of United States Cellular from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Raymond James upgraded United States Cellular from a “market perform” rating to an “outperform” rating and set a $86.00 price objective for the company in a research note on Thursday, November 7th. Finally, StockNews.com upgraded United States Cellular from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th.

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.