Victory Capital Management Inc. Sells 6,036 Shares of United States Cellular Co. (NYSE:USM)

Victory Capital Management Inc. reduced its position in United States Cellular Co. (NYSE:USM) by 11.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,122 shares of the Wireless communications provider’s stock after selling 6,036 shares during the period. Victory Capital Management Inc. owned approximately 0.05% of United States Cellular worth $796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of United States Cellular by 157.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,058 shares of the Wireless communications provider’s stock worth $28,000 after buying an additional 647 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of United States Cellular in the 1st quarter worth $32,000. UBS Group AG lifted its position in United States Cellular by 85.1% during the third quarter. UBS Group AG now owns 1,146 shares of the Wireless communications provider’s stock valued at $30,000 after purchasing an additional 527 shares in the last quarter. Quarry LP purchased a new position in United States Cellular during the first quarter valued at $31,000. Finally, Captrust Financial Advisors lifted its position in United States Cellular by 129.3% during the second quarter. Captrust Financial Advisors now owns 1,626 shares of the Wireless communications provider’s stock valued at $47,000 after purchasing an additional 917 shares in the last quarter. 16.76% of the stock is currently owned by hedge funds and other institutional investors.

United States Cellular Trading Up 2.2 %

Shares of USM stock opened at $42.94 on Thursday. United States Cellular Co. has a 1 year low of $13.79 and a 1 year high of $46.86. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.49 and a quick ratio of 1.28. The stock’s 50 day simple moving average is $42.13 and its two-hundred day simple moving average is $28.00. The company has a market cap of $3.66 billion, a PE ratio of -153.35 and a beta of 0.50.

United States Cellular (NYSE:USM) last issued its quarterly earnings data on Friday, August 4th. The Wireless communications provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.15). United States Cellular had a negative net margin of 0.54% and a negative return on equity of 0.48%. The company had revenue of $957.00 million for the quarter, compared to analysts’ expectations of $993.09 million. During the same quarter last year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. Research analysts predict that United States Cellular Co. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Citigroup lifted their target price on United States Cellular from $29.00 to $53.00 in a research report on Friday, August 18th. StockNews.com assumed coverage on United States Cellular in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Wells Fargo & Company upgraded United States Cellular from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $16.00 to $38.00 in a research report on Tuesday, August 8th. JPMorgan Chase & Co. upgraded United States Cellular from a “neutral” rating to an “overweight” rating and set a $52.00 price objective on the stock in a research report on Tuesday, August 8th. Finally, Morgan Stanley upped their price objective on United States Cellular from $27.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Monday, September 11th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.25.

United States Cellular Company 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 various essentials, including cases, screen protectors, chargers, and memory cards; and consumer electronics comprising audio, home automation, and networking products.