Renaissance Technologies LLC Cuts Stake in United States Cellular Corporation (NYSE:USM)

Renaissance Technologies LLC reduced its stake in shares of United States Cellular Corporation (NYSE:USM) by 17.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 626,700 shares of the Wireless communications provider’s stock after selling 130,800 shares during the period. Renaissance Technologies LLC owned approximately 0.74% of United States Cellular Corporation worth $23,395,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. Citadel Advisors LLC increased its stake in United States Cellular Corporation by 495.8% in the first quarter. Citadel Advisors LLC now owns 32,437 shares of the Wireless communications provider’s stock valued at $1,211,000 after buying an additional 26,993 shares during the period. Morgan Stanley boosted its position in shares of United States Cellular Corporation by 377.6% in the first quarter. Morgan Stanley now owns 128,172 shares of the Wireless communications provider’s stock valued at $4,784,000 after buying an additional 101,337 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of United States Cellular Corporation by 9.1% in the first quarter. Dimensional Fund Advisors LP now owns 933,874 shares of the Wireless communications provider’s stock valued at $34,862,000 after buying an additional 78,285 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of United States Cellular Corporation by 30.4% in the first quarter. Geode Capital Management LLC now owns 142,233 shares of the Wireless communications provider’s stock valued at $5,309,000 after buying an additional 33,196 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of United States Cellular Corporation by 6.4% in the first quarter. Vanguard Group Inc. now owns 1,746,129 shares of the Wireless communications provider’s stock valued at $65,183,000 after buying an additional 104,640 shares in the last quarter. Hedge funds and other institutional investors own 14.84% of the company’s stock.

United States Cellular Corporation (USM) traded down 0.94% during trading on Friday, hitting $38.06. 97,403 shares of the stock were exchanged. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 49.95 and a beta of 0.82. United States Cellular Corporation has a one year low of $33.30 and a one year high of $46.01. The stock’s 50 day moving average is $38.27 and its 200-day moving average is $39.46.

United States Cellular Corporation (NYSE:USM) last issued its quarterly earnings results on Friday, May 5th. The Wireless communications provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.20. United States Cellular Corporation had a return on equity of 1.45% and a net margin of 1.63%. The business had revenue of $936 million for the quarter, compared to analyst estimates of $955.13 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities research analysts expect that United States Cellular Corporation will post $0.49 earnings per share for the current fiscal year.

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Several brokerages have issued reports on USM. BidaskClub raised shares of United States Cellular Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Zacks Investment Research raised shares of United States Cellular Corporation from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Tuesday, May 9th. Finally, ValuEngine raised shares of United States Cellular Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, May 11th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.33.

In related news, EVP Jay Ellison sold 8,447 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $38.85, for a total value of $328,165.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director J Samuel Crowley sold 2,119 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $38.86, for a total value of $82,344.34. Following the completion of the sale, the director now owns 4,041 shares of the company’s stock, valued at approximately $157,033.26. The disclosure for this sale can be found here. Insiders sold 17,321 shares of company stock valued at $672,064 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

About United States Cellular Corporation

United States Cellular Corporation (U.S. Cellular) is a provider of wireless telecommunication services. The Company’s wireless operating markets are in the United States. U.S. Cellular provides service to postpaid and prepaid customers from a range of demographic segments. The Company focuses on retail consumers, government and small-to-mid-size business customers in industries, such as construction, retail, professional services and real estate.

Institutional Ownership by Quarter for United States Cellular Corporation (NYSE:USM)

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