United States Cellular (NYSE:USM) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

United States Cellular Corporation (NYSE:USM - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $64.00 and traded as high as $64.10. United States Cellular shares last traded at $64.03, with a volume of 65,457 shares traded.

Wall Street Analyst Weigh In

USM has been the subject of a number of research analyst reports. Raymond James Financial reiterated an "outperform" rating and set a $78.00 price target (down previously from $83.00) on shares of United States Cellular in a report on Monday, May 5th. JPMorgan Chase & Co. reduced their price target on United States Cellular from $88.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, May 28th.

United States Cellular Trading Down 0.9%

The company has a market cap of $5.40 billion, a P/E ratio of -138.00 and a beta of 0.35. The business has a fifty day moving average price of $62.30 and a 200-day moving average price of $64.07. The company has a quick ratio of 1.48, a current ratio of 1.70 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). United States Cellular had a positive return on equity of 1.36% and a negative net margin of 1.05%. The firm had revenue of $891.00 million for the quarter, compared to the consensus estimate of $924.90 million. On average, analysts forecast that United States Cellular Corporation will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On United States Cellular

Several institutional investors have recently made changes to their positions in the stock. Jericho Capital Asset Management L.P. boosted its stake in shares of United States Cellular by 2.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 1,815,844 shares of the Wireless communications provider's stock valued at $113,890,000 after buying an additional 35,052 shares during the period. Gabelli Funds LLC boosted its stake in shares of United States Cellular by 2.5% in the first quarter. Gabelli Funds LLC now owns 726,652 shares of the Wireless communications provider's stock valued at $50,248,000 after buying an additional 17,503 shares during the period. Millennium Management LLC boosted its stake in shares of United States Cellular by 83.1% in the first quarter. Millennium Management LLC now owns 495,473 shares of the Wireless communications provider's stock valued at $34,262,000 after buying an additional 224,801 shares during the period. Alyeska Investment Group L.P. boosted its stake in shares of United States Cellular by 73.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 480,250 shares of the Wireless communications provider's stock valued at $30,121,000 after buying an additional 204,146 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of United States Cellular by 12.4% in the fourth quarter. American Century Companies Inc. now owns 464,685 shares of the Wireless communications provider's stock valued at $29,145,000 after buying an additional 51,362 shares during the period. 18.03% of the stock is currently owned by institutional investors.

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.