T-Mobile US, Inc. $TMUS Shares Bought by Bank of Nova Scotia

Key Points

• Institutional buying: Bank of Nova Scotia boosted its T‑Mobile stake 57.5% in Q3 to 173,004 shares (~$41.4M), while other major investors (Wellington, Marshall Wace, Viking, Amundi) also substantially increased positions and Norges Bank initiated a roughly $1.48B stake, leaving institutions owning 42.49% of the stock.
• Significant insider selling: Company insiders have sold 694,134 shares (~$150.8M) in the last 90 days, including Raul Marcelo Claure’s sale of 550,000 shares for $119.66M, leaving insiders with just 0.37% ownership.
• Analyst outlook and valuation: Wall Street’s consensus is a "Moderate Buy" with an average target of $257.09, while the stock trades near $217 with a market cap of about $239.5B and a P/E of 22.4.

Bank of Nova Scotia increased its position in T-Mobile US, Inc. (NASDAQ:TMUS - Free Report) by 57.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 173,004 shares of the Wireless communications provider's stock after buying an additional 63,191 shares during the quarter. Bank of Nova Scotia's holdings in T-Mobile US were worth $41,414,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in T-Mobile US in the second quarter worth about $1,477,780,000. Wellington Management Group LLP boosted its position in shares of T-Mobile US by 47.5% during the 3rd quarter. Wellington Management Group LLP now owns 13,461,669 shares of the Wireless communications provider's stock valued at $3,222,454,000 after purchasing an additional 4,335,368 shares in the last quarter. Marshall Wace LLP grew its stake in shares of T-Mobile US by 2,303.2% in the 2nd quarter. Marshall Wace LLP now owns 1,797,086 shares of the Wireless communications provider's stock worth $428,174,000 after purchasing an additional 1,878,654 shares during the last quarter. Viking Global Investors LP raised its holdings in shares of T-Mobile US by 81.7% in the 2nd quarter. Viking Global Investors LP now owns 2,845,316 shares of the Wireless communications provider's stock worth $677,925,000 after purchasing an additional 1,279,422 shares in the last quarter. Finally, Amundi raised its holdings in shares of T-Mobile US by 44.6% in the 3rd quarter. Amundi now owns 4,109,084 shares of the Wireless communications provider's stock worth $924,380,000 after purchasing an additional 1,266,808 shares in the last quarter. Institutional investors own 42.49% of the company's stock.

Insider Activity

In other news, Director Srikant M. Datar sold 3,291 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $221.10, for a total value of $727,640.10. Following the completion of the sale, the director owned 1,038 shares of the company's stock, valued at $229,501.80. This trade represents a 76.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Raul Marcelo Claure sold 550,000 shares of T-Mobile US stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $217.57, for a total value of $119,663,500.00. Following the transaction, the director owned 891,204 shares in the company, valued at $193,899,254.28. This represents a 38.16% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 694,134 shares of company stock worth $150,847,799. 0.37% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TMUS has been the subject of a number of research reports. Scotiabank reduced their target price on shares of T-Mobile US from $270.50 to $266.00 and set a "sector outperform" rating for the company in a report on Thursday, February 12th. The Goldman Sachs Group upped their price target on T-Mobile US from $233.00 to $254.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Argus cut their price objective on T-Mobile US from $275.00 to $245.00 and set a "buy" rating for the company in a research report on Tuesday, December 9th. UBS Group reissued a "buy" rating on shares of T-Mobile US in a research note on Thursday, February 12th. Finally, Barclays lifted their target price on T-Mobile US from $240.00 to $245.00 and gave the stock an "overweight" rating in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $257.09.

T-Mobile US Stock Up 1.4%

TMUS stock opened at $217.39 on Monday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.00 and a quick ratio of 0.90. The firm has a market capitalization of $239.53 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.41 and a beta of 0.42. T-Mobile US, Inc. has a 52-week low of $181.36 and a 52-week high of $272.60. The company's 50 day simple moving average is $204.16 and its 200-day simple moving average is $214.25.

T-Mobile US Profile

T-Mobile US is a national wireless carrier that provides mobile voice, messaging and data services to consumers, businesses and wholesale customers across the United States, Puerto Rico and the U.S. Virgin Islands. The company operates a nationwide mobile network and offers device sales, equipment financing and support services through retail stores, online channels and distribution partners. T-Mobile positions its products around bundled service plans, device offerings and value-added features for both individual and enterprise customers.

Product offerings include postpaid and prepaid wireless plans under the T-Mobile and Metro by T-Mobile brands, as well as connectivity solutions for small and large businesses.

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