Invesco LLC Takes Position in United States Cellular Co. (NYSE:USM)

Invesco LLC purchased a new position in United States Cellular Co. (NYSE:USM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,497 shares of the Wireless communications provider’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of United States Cellular by 3.5% in the third quarter. FMR LLC now owns 247,985 shares of the Wireless communications provider’s stock worth $13,552,000 after acquiring an additional 8,416 shares during the last quarter. Geode Capital Management LLC increased its stake in United States Cellular by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 166,181 shares of the Wireless communications provider’s stock valued at $9,085,000 after purchasing an additional 7,449 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in United States Cellular by 28.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 143,021 shares of the Wireless communications provider’s stock worth $7,816,000 after buying an additional 31,934 shares during the last quarter. State Street Corp lifted its stake in shares of United States Cellular by 13.0% in the third quarter. State Street Corp now owns 106,343 shares of the Wireless communications provider’s stock worth $5,812,000 after buying an additional 12,219 shares in the last quarter. Finally, Algert Global LLC grew its holdings in shares of United States Cellular by 220.8% during the second quarter. Algert Global LLC now owns 76,726 shares of the Wireless communications provider’s stock valued at $4,283,000 after buying an additional 52,806 shares during the last quarter. Institutional investors own 18.03% of the company’s stock.

United States Cellular Stock Performance

Shares of USM stock traded up $0.98 on Wednesday, reaching $64.69. The stock had a trading volume of 13,324 shares, compared to its average volume of 109,043. The stock has a market cap of $5.56 billion, a P/E ratio of -180.73 and a beta of 0.48. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.39 and a current ratio of 1.57. United States Cellular Co. has a 1 year low of $32.01 and a 1 year high of $68.31. The company has a 50 day simple moving average of $62.68 and a 200 day simple moving average of $58.76.

United States Cellular (NYSE:USM) last announced its earnings results on Friday, November 1st. The Wireless communications provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.13. United States Cellular had a positive return on equity of 1.55% and a negative net margin of 0.79%. The business had revenue of $922.00 million for the quarter, compared to analysts’ expectations of $940.40 million. During the same period last year, the firm posted $0.26 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities research analysts expect that United States Cellular Co. will post 0.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on USM shares. Raymond James upgraded United States Cellular from a “market perform” rating to an “outperform” rating and set a $86.00 target price on the stock in a research note on Thursday, November 7th. Wells Fargo & Company lifted their price objective on United States Cellular from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, StockNews.com upgraded shares of United States Cellular from a “sell” rating to a “hold” rating in a research note on Wednesday.

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.