United States Cellular (NYSE:USM) Shares Gap Down – Here’s Why

United States Cellular Co. (NYSE:USM) shares gapped down prior to trading on Friday . The stock had previously closed at $68.85, but opened at $65.20. United States Cellular shares last traded at $65.15, with a volume of 65,089 shares traded.

Analyst Ratings Changes

Several brokerages have recently weighed in on USM. JPMorgan Chase & Co. lifted their price target on shares of United States Cellular from $86.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. StockNews.com upgraded United States Cellular from a “sell” rating to a “hold” rating in a research report on Friday, February 21st.

United States Cellular Price Performance

The firm has a market cap of $5.36 billion, a PE ratio of -175.19 and a beta of 0.40. The firm’s fifty day simple moving average is $66.41 and its two-hundred day simple moving average is $64.14. 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 (NYSE:USM) last released its earnings results on Friday, February 21st. The Wireless communications provider reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.15. United States Cellular had a negative net margin of 0.79% and a positive return on equity of 1.55%. The company had revenue of $970.00 million for the quarter, compared to analysts’ expectations of $964.70 million. During the same quarter in the previous year, the company earned $0.23 EPS. As a group, research analysts expect that United States Cellular Co. will post 0.57 EPS for the current year.

Institutional Trading of United States Cellular

Institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its stake in United States Cellular by 222.8% in the 1st quarter. Victory Capital Management Inc. now owns 55,675 shares of the Wireless communications provider’s stock worth $3,850,000 after purchasing an additional 38,428 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of United States Cellular in the first quarter worth $195,000. Handelsbanken Fonder AB bought a new position in shares of United States Cellular during the first quarter worth $235,000. Harbor Capital Advisors Inc. purchased a new position in United States Cellular during the first quarter valued at $176,000. Finally, GAMMA Investing LLC increased its holdings in United States Cellular by 6,815.0% in the 1st quarter. GAMMA Investing LLC now owns 10,165 shares of the Wireless communications provider’s stock valued at $703,000 after acquiring an additional 10,018 shares during the last quarter. Hedge funds and other institutional investors own 18.03% of the company’s stock.

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.