Short Interest in United States Cellular Corporation (NYSE:USM) Rises 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) was the target of a large increase in short interest in 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. Based on an average trading volume of 240,300 shares, the short-interest ratio is currently 4.7 days. Approximately8.2% of the company's stock are sold short. Approximately8.2% of the company's stock are sold short. Based on an average trading volume of 240,300 shares, the short-interest ratio is currently 4.7 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of USM. Hawk Ridge Capital Management LP acquired a new position in United States Cellular during the 1st quarter worth $23,428,000. Millennium Management LLC lifted its position in United States Cellular by 83.1% during the 1st quarter. Millennium Management LLC now owns 495,473 shares of the Wireless communications provider's stock worth $34,262,000 after acquiring an additional 224,801 shares during the last quarter. Alyeska Investment Group L.P. lifted its position in United States Cellular by 73.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 480,250 shares of the Wireless communications provider's stock worth $30,121,000 after acquiring an additional 204,146 shares during the last quarter. Tiptree Advisors LLC acquired a new position in United States Cellular during the 4th quarter worth $4,704,000. Finally, Man Group plc lifted its position in United States Cellular by 124.6% during the 4th quarter. Man Group plc now owns 114,465 shares of the Wireless communications provider's stock worth $7,179,000 after acquiring an additional 63,501 shares during the last quarter. Institutional investors and hedge funds own 18.03% of the company's stock.

United States Cellular Trading Up 0.9%

Shares of NYSE:USM opened at $73.56 on Monday. The stock has a market capitalization of $6.25 billion, a PE ratio of -159.91 and a beta of 0.38. United States Cellular has a 1 year low of $47.59 and a 1 year high of $76.90. The firm has a fifty day moving average price of $65.18 and a 200 day moving average price of $65.12. The company has a current ratio of 1.70, a quick ratio of 1.48 and a debt-to-equity ratio of 0.62.

United States Cellular (NYSE:USM - Get Free Report) last issued its quarterly earnings data 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 business 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 expect that United States Cellular will post 0.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

USM has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered 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 report on Wednesday, May 28th. Raymond James Financial restated an "outperform" rating and set a $84.00 price target (up from $78.00) on shares of United States Cellular in a report on Friday, July 25th.

United States Cellular Company 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.

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