Mackenzie Financial Corp Takes Position in United States Cellular Corporation (NYSE:USM)

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 acquired a new stake in United States Cellular Corporation (NYSE:USM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,631 shares of the Wireless communications provider's stock, valued at approximately $320,000.

Several other large investors have also made changes to their positions in USM. Central Pacific Bank Trust Division increased its holdings in United States Cellular by 1.4% in the 1st quarter. Central Pacific Bank Trust Division now owns 21,900 shares of the Wireless communications provider's stock worth $1,514,000 after acquiring an additional 300 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in United States Cellular by 37.6% in the 4th quarter. BNP Paribas Financial Markets now owns 1,657 shares of the Wireless communications provider's stock worth $104,000 after acquiring an additional 453 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in United States Cellular by 9.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 7,260 shares of the Wireless communications provider's stock worth $454,000 after acquiring an additional 609 shares in the last quarter. State of Wyoming increased its holdings in United States Cellular by 17.6% in the 4th quarter. State of Wyoming now owns 4,551 shares of the Wireless communications provider's stock worth $285,000 after acquiring an additional 680 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in United States Cellular by 1,837.5% in the 4th 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 in the last quarter. 18.03% of the stock is owned by hedge funds and other institutional investors.

United States Cellular Stock Up 3.5%

Shares of USM stock traded up $2.62 during trading hours on Monday, reaching $76.87. 1,000,445 shares of the stock were exchanged, compared to its average volume of 230,556. United States Cellular Corporation has a 12-month low of $51.20 and a 12-month high of $79.17. The business's fifty day moving average is $66.34 and its two-hundred day moving average is $65.48. The firm has a market capitalization of $6.53 billion, a P/E ratio of -167.11 and a beta of 0.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.70 and a quick ratio of 1.48.

United States Cellular (NYSE:USM - Get Free Report) last posted its earnings results on Monday, August 11th. The Wireless communications provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The firm had revenue of $916.00 million during the quarter, compared to analysts' expectations of $907.73 million. United States Cellular had a positive return on equity of 1.36% and a negative net margin of 1.05%. As a group, research analysts expect that United States Cellular Corporation will post 0.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $84.00 target price (up previously from $78.00) on shares of United States Cellular in a research note on Friday, July 25th. JPMorgan Chase & Co. dropped their price target on shares of United States Cellular from $88.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, May 28th.

United States Cellular 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.