United States Cellular (NYSE:USM) Trading Up 10.1% - Here's What Happened

United States Cellular Co. (NYSE:USM - Get Free Report)'s share price traded up 10.1% during trading on Friday . The stock traded as high as $65.22 and last traded at $64.66. 64,640 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 237,795 shares. The stock had previously closed at $58.71.

United States Cellular Stock Up 7.1 %

The stock has a market cap of $5.41 billion, a PE ratio of 76.67 and a beta of 0.48. 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 business has a 50-day moving average price of $55.27 and a 200-day moving average price of $50.13.

United States Cellular (NYSE:USM - Get Free Report) last issued its earnings results on Friday, August 2nd. The Wireless communications provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.06. The business had revenue of $927.00 million during the quarter, compared to the consensus estimate of $924.96 million. United States Cellular had a return on equity of 1.55% and a net margin of 1.88%. The company's revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the company earned $0.05 EPS. As a group, analysts forecast that United States Cellular Co. will post 0.61 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Kevin R. Lowell sold 37,597 shares of the firm's stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On United States Cellular

Several hedge funds and other institutional investors have recently made changes to their positions in USM. Creative Planning lifted its stake in United States Cellular by 12.4% during the third quarter. Creative Planning now owns 7,238 shares of the Wireless communications provider's stock worth $396,000 after purchasing an additional 800 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of United States Cellular by 130.3% in the third quarter. SG Americas Securities LLC now owns 4,762 shares of the Wireless communications provider's stock valued at $260,000 after purchasing an additional 2,694 shares during the period. Algert Global LLC increased its holdings in shares of United States Cellular by 220.8% in the second quarter. Algert Global LLC now owns 76,726 shares of the Wireless communications provider's stock valued at $4,283,000 after purchasing an additional 52,806 shares during the period. Mackenzie Financial Corp acquired a new position in shares of United States Cellular in the second quarter valued at approximately $420,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of United States Cellular in the second quarter valued at approximately $218,000. Hedge funds and other institutional investors 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.