United States Cellular Corp (NYSE:USM) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $58.48 and last traded at $57.32, with a volume of 1379 shares changing hands. The stock had previously closed at $57.36.
A number of research analysts have issued reports on USM shares. Zacks Investment Research lowered shares of United States Cellular from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 8th. B. Riley reissued a “neutral” rating and set a $53.00 target price on shares of United States Cellular in a research note on Thursday, November 1st. Raymond James upped their price target on shares of United States Cellular from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Finally, ValuEngine raised shares of United States Cellular from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $51.00.
The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 98.69, a P/E/G ratio of 38.69 and a beta of 0.50. The company has a current ratio of 2.71, a quick ratio of 2.53 and a debt-to-equity ratio of 0.40.
In related news, Director Harry J. Harczak, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $52.05, for a total value of $260,250.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth R. Meyers sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $57.11, for a total transaction of $1,998,850.00. Following the completion of the sale, the insider now owns 126,947 shares in the company, valued at $7,249,943.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,859 shares of company stock valued at $5,129,080. Company insiders own 1.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP increased its stake in United States Cellular by 27.9% in the 3rd quarter. Engineers Gate Manager LP now owns 15,360 shares of the Wireless communications provider’s stock valued at $688,000 after buying an additional 3,349 shares during the period. Stone Ridge Asset Management LLC increased its stake in United States Cellular by 12.0% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 40,485 shares of the Wireless communications provider’s stock valued at $1,813,000 after buying an additional 4,353 shares during the period. United Services Automobile Association acquired a new position in United States Cellular in the 3rd quarter valued at approximately $215,000. Rhumbline Advisers increased its stake in United States Cellular by 41.9% in the 3rd quarter. Rhumbline Advisers now owns 17,931 shares of the Wireless communications provider’s stock valued at $803,000 after buying an additional 5,294 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in United States Cellular by 4.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 124,131 shares of the Wireless communications provider’s stock valued at $5,558,000 after buying an additional 5,607 shares during the period. Institutional investors and hedge funds own 16.12% of the company’s stock.
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United States Cellular Company Profile (NYSE:USM)
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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