United States Cellular (NYSE:USM) Trading Up 10.1% – Here’s Why

United States Cellular Co. (NYSE:USM)’s stock price rose 10.1% on Friday . The stock traded as high as $65.22 and last traded at $64.66. Approximately 64,640 shares traded hands during trading, a decline of 73% from the average daily volume of 237,795 shares. The stock had previously closed at $58.71.

United States Cellular Trading Up 8.3 %

The firm has a fifty day moving average price of $55.27 and a 200-day moving average price of $50.13. The company has a market capitalization of $5.47 billion, a P/E ratio of 78.53 and a beta of 0.48. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.55 and a quick ratio of 1.39.

United States Cellular (NYSE:USM) last announced its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. The business had revenue of $927.00 million for the quarter, compared to analyst estimates of $924.96 million. United States Cellular had a net margin of 1.88% and a return on equity of 1.55%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share. On average, equities research analysts anticipate that United States Cellular Co. will post 0.61 earnings per share for the current year.

Insider Transactions at United States Cellular

In other United States Cellular news, EVP Kevin R. Lowell sold 37,597 shares of United States Cellular stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.34, for a total transaction of $1,855,035.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On United States Cellular

Several hedge funds have recently added to or reduced their stakes in USM. Summit Securities Group LLC bought a new position in shares of United States Cellular during the second quarter valued at about $28,000. SG Americas Securities LLC purchased a new position in United States Cellular in the 2nd quarter worth approximately $115,000. Bailard Inc. bought a new stake in United States Cellular in the second quarter valued at approximately $207,000. Invesco LLC purchased a new stake in shares of United States Cellular during the second quarter valued at approximately $214,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of United States Cellular in the second quarter worth approximately $218,000. 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.