Raymond James Financial Inc. Makes New Investment in United States Cellular Co. (NYSE:USM)

Raymond James Financial Inc. acquired a new stake in United States Cellular Co. (NYSE:USM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 16,513 shares of the Wireless communications provider's stock, valued at approximately $1,036,000.

A number of other hedge funds also recently made changes to their positions in the business. Barclays PLC lifted its position in shares of United States Cellular by 10.8% during the 3rd quarter. Barclays PLC now owns 24,636 shares of the Wireless communications provider's stock worth $1,345,000 after buying an additional 2,405 shares during the period. JPMorgan Chase & Co. raised its stake in United States Cellular by 34.3% during the third quarter. JPMorgan Chase & Co. now owns 52,688 shares of the Wireless communications provider's stock worth $2,879,000 after acquiring an additional 13,467 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of United States Cellular by 262.8% during the fourth quarter. SG Americas Securities LLC now owns 17,275 shares of the Wireless communications provider's stock valued at $1,083,000 after acquiring an additional 12,513 shares during the period. Mariner Investment Group LLC bought a new stake in shares of United States Cellular in the 4th quarter worth about $1,944,000. Finally, R Squared Ltd bought a new stake in shares of United States Cellular in the 4th quarter worth about $38,000. Institutional investors and hedge funds own 18.03% of the company's stock.

Wall Street Analyst Weigh In

USM has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of United States Cellular from $86.00 to $88.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. StockNews.com upgraded United States Cellular from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Finally, Raymond James restated an "outperform" rating and set a $78.00 target price (down previously from $83.00) on shares of United States Cellular in a report on Monday, May 5th.

United States Cellular Trading Up 0.8 %

Shares of USM traded up $0.48 during trading hours on Friday, hitting $63.25. 232,597 shares of the stock traded hands, compared to its average volume of 194,581. The business has a fifty day moving average of $66.13 and a 200-day moving average of $64.24. The firm has a market capitalization of $5.38 billion, a PE ratio of -175.69 and a beta of 0.39. United States Cellular Co. has a 1-year low of $41.25 and a 1-year high of $70.79. The company has a current ratio of 1.57, a quick ratio of 1.39 and a debt-to-equity ratio of 0.63.

United States Cellular (NYSE:USM - Get Free Report) last released its 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). United States Cellular had a negative net margin of 0.79% and a positive return on equity of 1.55%. The business had revenue of $891.00 million for the quarter, compared to analyst estimates of $924.90 million. Analysts expect that United States Cellular Co. will post 0.57 EPS for the current year.

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.