Short Interest in United States Cellular Corporation (NYSE:USM) Expands By 153.5%

Key Points

• Short interest in United States Cellular Corporation (NYSE:USM) surged by 153.5% in July, reaching a total of 1,120,000 shares sold short, signaling increasing bearish sentiment.
• Several institutional investors significantly increased their holdings in USM, with Hawk Ridge Capital Management acquiring a new position valued at $23.4 million, showing strong investor interest.
• Despite a recent earnings miss with EPS of $0.21 compared to an expected $0.37, analysts maintain a generally positive outlook, with varied price targets ranging from $84 to $85.

United States Cellular Corporation (NYSE:USM - Get Free Report) saw a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 1,120,000 shares, anincreaseof153.5% from the June 30th total of 441,900 shares. Approximately8.2% of the company's stock are short sold. Based on an average daily trading volume, of 240,300 shares, the days-to-cover ratio is currently 4.7 days. Based on an average daily trading volume, of 240,300 shares, the days-to-cover ratio is currently 4.7 days. Approximately8.2% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on USM shares. Raymond James Financial restated an "outperform" rating and set a $84.00 price objective (up from $78.00) on shares of United States Cellular in a research note on Friday, July 25th. JPMorgan Chase & Co. reduced their price objective on 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.

United States Cellular Stock Down 0.2%

NYSE USM traded down $0.12 during trading on Thursday, reaching $73.86. 301,096 shares of the company's stock were exchanged, compared to its average volume of 221,670. United States Cellular has a fifty-two week low of $50.90 and a fifty-two week high of $76.90. The firm has a market capitalization of $6.28 billion, a PE ratio of -160.72 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. The company's fifty day simple moving average is $65.84 and its 200-day simple moving average is $65.30.

Institutional Investors Weigh In On United States Cellular

Institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in United States Cellular in the 1st quarter valued at $55,000. Lazard Asset Management LLC increased its holdings in United States Cellular by 1,837.5% in the fourth quarter. Lazard Asset Management LLC now owns 930 shares of the Wireless communications provider's stock valued at $58,000 after purchasing an additional 882 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in United States Cellular by 37.6% in the fourth quarter. BNP Paribas Financial Markets now owns 1,657 shares of the Wireless communications provider's stock valued at $104,000 after purchasing an additional 453 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of United States Cellular during the first quarter worth about $176,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of United States Cellular during the first quarter worth about $195,000. 18.03% of the stock is currently owned by institutional investors and hedge funds.

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.