4,631 Shares in United States Cellular Corporation (NYSE:USM) Acquired by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp has made a new investment of approximately $320,000 in United States Cellular Corporation by acquiring 4,631 shares during the first quarter.
• Several other institutional investors have also increased their stakes in United States Cellular, contributing to a collective ownership of 18.03% of the company's stock.
• The current stock price of United States Cellular (NYSE:USM) is $74.16, with a 52-week range between $50.90 and $76.90.

Mackenzie Financial Corp purchased a new position in United States Cellular Corporation (NYSE:USM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,631 shares of the Wireless communications provider's stock, valued at approximately $320,000.

A number of other institutional investors also recently bought and sold shares of the stock. Lazard Asset Management LLC grew its stake in shares of United States Cellular by 1,837.5% during the fourth quarter. Lazard Asset Management LLC now owns 930 shares of the Wireless communications provider's stock worth $58,000 after acquiring an additional 882 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of United States Cellular by 37.6% during the 4th quarter. BNP Paribas Financial Markets now owns 1,657 shares of the Wireless communications provider's stock worth $104,000 after buying an additional 453 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of United States Cellular during the first quarter worth approximately $176,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of United States Cellular during the first quarter worth approximately $195,000. Finally, Corton Capital Inc. purchased a new stake in United States Cellular in the 4th quarter valued at $203,000. 18.03% of the stock is currently owned by institutional investors.

United States Cellular Stock Performance

Shares of NYSE:USM traded up $3.63 on Wednesday, reaching $77.88. 1,000,445 shares of the company's stock were exchanged, compared to its average volume of 467,326. The company has a fifty day moving average of $66.93 and a 200-day moving average of $65.66. United States Cellular Corporation has a twelve month low of $51.20 and a twelve month high of $79.17. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of -259.59 and a beta of 0.38. The company has a current ratio of 1.70, a quick ratio of 1.48 and a debt-to-equity ratio of 0.62.

United States Cellular (NYSE:USM - Get Free Report) last announced its earnings results on Monday, August 11th. The Wireless communications provider reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. United States Cellular had a negative net margin of 0.68% and a positive return on equity of 1.68%. The business had revenue of $916.00 million during the quarter, compared to the consensus estimate of $907.73 million. On average, research analysts predict that United States Cellular Corporation will post 0.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on United States Cellular from $85.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday. Raymond James Financial reiterated an "outperform" rating and issued a $84.00 price objective (up previously from $78.00) on shares of United States Cellular in a report on Friday, July 25th.

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.