United States Cellular (NYSE:USM) Sets New 52-Week High - Should You Buy?

Key Points

• United States Cellular Corporation reached a new 52-week high of $78.29, with significant trading volume of 127,287 shares, marking an increase from its previous close of $74.25.
• Analysts from Raymond James Financial and JPMorgan Chase & Co. have updated their ratings and price targets, with Raymond James maintaining an "outperform" rating and raising its price target to $84.00.
• Institutional investors are showing increased interest, with Universal Beteiligungs and Creative Planning notably boosting their stakes by 9.5% and 21.7% respectively during the second quarter.

United States Cellular Corporation (NYSE:USM - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $77.58 and last traded at $78.29, with a volume of 127287 shares. The stock had previously closed at $74.25.

Analyst Upgrades and Downgrades

USM has been the subject of a number of analyst reports. Raymond James Financial reiterated an "outperform" rating and issued a $84.00 price target (up from $78.00) on shares of United States Cellular in a research report on Friday, July 25th. JPMorgan Chase & Co. decreased their target price on shares of United States Cellular from $88.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 28th.

United States Cellular Price Performance

The company has a market cap of $6.58 billion, a price-to-earnings ratio of -169.04 and a beta of 0.38. The company has a quick ratio of 1.48, a current ratio of 1.70 and a debt-to-equity ratio of 0.62. The stock's 50-day simple moving average is $66.34 and its 200 day simple moving average is $65.48.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in USM. Universal Beteiligungs und Servicegesellschaft mbH increased its position in United States Cellular by 9.5% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 6,244 shares of the Wireless communications provider's stock worth $399,000 after buying an additional 544 shares during the period. Creative Planning boosted its stake in United States Cellular by 21.7% in the 2nd quarter. Creative Planning now owns 7,985 shares of the Wireless communications provider's stock valued at $511,000 after buying an additional 1,424 shares in the last quarter. Geode Capital Management LLC boosted its stake in United States Cellular by 3.3% in the second quarter. Geode Capital Management LLC now owns 182,499 shares of the Wireless communications provider's stock worth $11,677,000 after purchasing an additional 5,846 shares in the last quarter. AlphaQuest LLC increased its holdings in United States Cellular by 101.8% in the second quarter. AlphaQuest LLC now owns 6,258 shares of the Wireless communications provider's stock valued at $400,000 after purchasing an additional 3,157 shares during the last quarter. Finally, Tiptree Advisors LLC increased its holdings in shares of United States Cellular by 31.1% in the second quarter. Tiptree Advisors LLC now owns 98,300 shares of the Wireless communications provider's stock worth $6,288,000 after acquiring an additional 23,300 shares in the last quarter. Institutional investors and hedge funds own 18.03% of the company's stock.

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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