Invesco Ltd. Invests $3.84 Million in United States Cellular Corporation $USM

Invesco Ltd. purchased a new stake in shares of United States Cellular Corporation (NYSE:USM) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 55,559 shares of the Wireless communications provider’s stock, valued at approximately $3,842,000. Invesco Ltd. owned about 0.07% of United States Cellular at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Alyeska Investment Group L.P. boosted its position in United States Cellular by 73.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 480,250 shares of the Wireless communications provider’s stock valued at $30,121,000 after buying an additional 204,146 shares in the last quarter. Tiptree Advisors LLC bought a new position in shares of United States Cellular in the 4th quarter valued at $4,704,000. Man Group plc boosted its holdings in shares of United States Cellular by 124.6% during the 4th quarter. Man Group plc now owns 114,465 shares of the Wireless communications provider’s stock valued at $7,179,000 after acquiring an additional 63,501 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in United States Cellular by 41.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 179,909 shares of the Wireless communications provider’s stock worth $11,284,000 after acquiring an additional 52,396 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings 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 in the last quarter. 18.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Raymond James Financial reissued an “outperform” rating and set a $84.00 price target (up from $78.00) on shares of United States Cellular in a research note on Friday, July 25th. JPMorgan Chase & Co. boosted their target price on shares of United States Cellular from $85.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, United States Cellular currently has an average rating of “Buy” and a consensus price target of $85.33.

United States Cellular Stock Performance

Shares of United States Cellular stock opened at $77.88 on Friday. The business has a 50-day moving average price of $70.91 and a two-hundred day moving average price of $66.80. United States Cellular Corporation has a 1-year low of $51.20 and a 1-year high of $79.17. The company has a current ratio of 1.70, a quick ratio of 1.48 and a debt-to-equity ratio of 0.62. The company has a market cap of $6.62 billion, a P/E ratio of -259.59 and a beta of 0.38.

United States Cellular (NYSE:USM) last announced its quarterly earnings data on Monday, August 11th. The Wireless communications provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. United States Cellular had a positive return on equity of 1.68% and a negative net margin of 0.68%.The company had revenue of $916.00 million for the quarter, compared to the consensus estimate of $907.73 million. As a group, analysts anticipate that United States Cellular Corporation will post 0.57 EPS for the current year.

United States Cellular Increases Dividend

The business also recently disclosed a special dividend, which was paid on Tuesday, August 19th. Stockholders of record on Monday, August 11th were given a dividend of $23.00 per share. This is a positive change from United States Cellular’s previous special dividend of $0.06. The ex-dividend date of this dividend was Wednesday, August 20th.

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 wireless essentials, including cases, screen protectors, chargers, and memory cards; and consumer electronics comprising audio, home automation, and networking products.