United States Cellular (NYSE:USM) Trading Down 7.2%

United States Cellular Co. (NYSE:USM)’s share price fell 7.2% on Friday . The company traded as low as $34.48 and last traded at $34.58. 417,095 shares traded hands during trading, an increase of 96% from the average session volume of 213,166 shares. The stock had previously closed at $37.26.

United States Cellular Stock Down 8.5 %

The stock has a 50-day simple moving average of $35.51 and a 200-day simple moving average of $39.79. The firm has a market capitalization of $2.90 billion, a PE ratio of 55.00 and a beta of 0.45. The company has a quick ratio of 1.33, a current ratio of 1.55 and a debt-to-equity ratio of 0.66.

United States Cellular (NYSE:USM) last posted its quarterly earnings results on Friday, February 16th. The Wireless communications provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. United States Cellular had a return on equity of 1.19% and a net margin of 1.41%. The firm had revenue of $1,000.00 million during the quarter, compared to analyst estimates of $984.18 million. During the same period last year, the company earned ($0.33) earnings per share. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. Analysts forecast that United States Cellular Co. will post 0.74 EPS for the current year.

Hedge Funds Weigh In On United States Cellular

Several hedge funds and other institutional investors have recently added to or reduced their stakes in USM. Cannon Global Investment Management LLC bought a new stake in shares of United States Cellular during the 1st quarter valued at about $522,000. SageView Advisory Group LLC purchased a new stake in United States Cellular in the fourth quarter valued at approximately $310,000. Clear Street Markets LLC bought a new stake in United States Cellular during the fourth quarter valued at approximately $105,000. TCW Group Inc. purchased a new position in United States Cellular in the 4th quarter worth approximately $1,178,000. Finally, Quest Partners LLC bought a new position in shares of United States Cellular in the 4th quarter worth $43,000. 18.03% of the stock is currently owned by hedge funds and other 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.