United States Cellular (NYSE:USM) Share Price Passes Above 200-Day Moving Average of $45.87

United States Cellular Co. (NYSE:USM)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $45.87 and traded as high as $56.29. United States Cellular shares last traded at $54.79, with a volume of 124,538 shares traded.

Analyst Upgrades and Downgrades

USM has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded United States Cellular from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $38.00 to $75.00 in a report on Thursday, May 30th. JPMorgan Chase & Co. lifted their target price on United States Cellular from $51.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th.

United States Cellular Stock Performance

The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average price is $54.42 and its 200 day moving average price is $45.96. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 81.78 and a beta of 0.48.

United States Cellular (NYSE:USM) last posted its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. United States Cellular had a return on equity of 1.55% and a net margin of 1.88%. The firm had revenue of $927.00 million during the quarter, compared to the consensus estimate of $924.96 million. During the same period last year, the company earned $0.05 earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year. Analysts expect that United States Cellular Co. will post 0.46 earnings per share for the current year.

Insider Activity

In other United States Cellular news, EVP Kevin R. Lowell sold 37,597 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.34, for a total transaction of $1,855,035.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On United States Cellular

Several hedge funds have recently bought and sold shares of the stock. Algert Global LLC increased its position in United States Cellular by 220.8% during the second quarter. Algert Global LLC now owns 76,726 shares of the Wireless communications provider’s stock worth $4,283,000 after acquiring an additional 52,806 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of United States Cellular in the second quarter valued at approximately $420,000. The Manufacturers Life Insurance Company bought a new stake in shares of United States Cellular in the second quarter valued at approximately $218,000. Point72 Asset Management L.P. acquired a new stake in United States Cellular during the second quarter worth approximately $22,394,000. Finally, Gabelli Funds LLC raised its holdings in United States Cellular by 3.2% in the 2nd quarter. Gabelli Funds LLC now owns 680,300 shares of the Wireless communications provider’s stock valued at $37,974,000 after acquiring an additional 20,785 shares in the last quarter. 18.03% of the stock is currently owned by institutional investors and hedge funds.

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.