Victory Capital Management Inc. Grows Stake in United States Cellular Corporation (NYSE:USM)

Key Points

• Victory Capital Management Inc. significantly increased its stake in United States Cellular Corporation by 222.8%, now owning approximately 55,675 shares valued at $3.85 million.
• Several institutional investors have also adjusted their positions in USM, with notable increases including a 1,837.5% hike by Lazard Asset Management LLC.
• United States Cellular recently reported earnings of $0.21 EPS, missing analysts' expectations, with a revenue of $891 million against a consensus of $924.9 million.

Victory Capital Management Inc. raised its stake in United States Cellular Corporation (NYSE:USM - Free Report) by 222.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,675 shares of the Wireless communications provider's stock after acquiring an additional 38,428 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of United States Cellular worth $3,850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in USM. Central Pacific Bank Trust Division lifted its stake in shares of United States Cellular by 1.4% during the 1st quarter. Central Pacific Bank Trust Division now owns 21,900 shares of the Wireless communications provider's stock valued at $1,514,000 after buying an additional 300 shares in the last quarter. BNP Paribas Financial Markets lifted 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 valued at $104,000 after buying an additional 453 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of United States Cellular by 9.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 7,260 shares of the Wireless communications provider's stock valued at $454,000 after buying an additional 609 shares in the last quarter. State of Wyoming lifted its stake in shares of United States Cellular by 17.6% during the 4th quarter. State of Wyoming now owns 4,551 shares of the Wireless communications provider's stock valued at $285,000 after buying an additional 680 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of United States Cellular by 1,837.5% during the 4th quarter. Lazard Asset Management LLC now owns 930 shares of the Wireless communications provider's stock valued at $58,000 after buying an additional 882 shares in the last quarter. Institutional investors own 18.03% of the company's stock.

United States Cellular Price Performance

Shares of United States Cellular stock opened at $73.84 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.70 and a quick ratio of 1.48. The business's 50 day simple moving average is $64.05 and its two-hundred day simple moving average is $64.76. The stock has a market capitalization of $6.28 billion, a P/E ratio of -160.51 and a beta of 0.35. United States Cellular Corporation has a one year low of $47.59 and a one year high of $76.90.

United States Cellular (NYSE:USM - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The Wireless communications provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.16). The firm had revenue of $891.00 million during the quarter, compared to the consensus estimate of $924.90 million. United States Cellular had a positive return on equity of 1.36% and a negative net margin of 1.05%. Analysts forecast that United States Cellular Corporation will post 0.57 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on USM. JPMorgan Chase & Co. dropped their price target on shares of United States Cellular from $88.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 28th. Raymond James Financial reiterated an "outperform" rating and issued a $84.00 target price (up from $78.00) on shares of United States Cellular in a research note on Friday.

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.

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