Gabelli Funds LLC Purchases 20,785 Shares of United States Cellular Co. (NYSE:USM)

Gabelli Funds LLC boosted its holdings in United States Cellular Co. (NYSE:USM - Free Report) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 680,300 shares of the Wireless communications provider's stock after purchasing an additional 20,785 shares during the quarter. Gabelli Funds LLC owned approximately 0.79% of United States Cellular worth $37,974,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC bought a new stake in shares of United States Cellular in the second quarter worth about $28,000. Quest Partners LLC purchased a new position in United States Cellular during the 4th quarter valued at approximately $43,000. Clear Street Markets LLC bought a new stake in United States Cellular in the 4th quarter worth approximately $105,000. SG Americas Securities LLC purchased a new stake in shares of United States Cellular during the 2nd quarter worth approximately $115,000. Finally, Bailard Inc. purchased a new stake in shares of United States Cellular during the 2nd quarter worth approximately $207,000. 18.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at United States Cellular

In related news, EVP Kevin R. Lowell sold 37,597 shares of the business's stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of United States Cellular from $51.00 to $69.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 29th. Wells Fargo & Company raised shares of United States Cellular from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $38.00 to $75.00 in a research note on Thursday, May 30th.

United States Cellular Trading Down 2.2 %

USM stock traded down $1.26 during midday trading on Friday, reaching $55.13. 269,373 shares of the company traded hands, compared to its average volume of 250,827. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 82.28 and a beta of 0.48. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 1.55. The business has a 50 day moving average of $54.41 and a 200-day moving average of $47.59. United States Cellular Co. has a 52-week low of $32.01 and a 52-week high of $60.14.

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

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.