Raymond James Financial Inc. Takes Position in United States Cellular Co. (NYSE:USM)

Raymond James Financial Inc. bought a new stake in United States Cellular Co. (NYSE:USM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 16,513 shares of the Wireless communications provider's stock, valued at approximately $1,036,000.

Several other institutional investors and hedge funds also recently made changes to their positions in USM. R Squared Ltd acquired a new position in United States Cellular in the fourth quarter valued at about $38,000. Venturi Wealth Management LLC boosted its holdings in shares of United States Cellular by 1,917.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,219 shares of the Wireless communications provider's stock worth $139,000 after acquiring an additional 2,109 shares in the last quarter. Invesco LLC bought a new stake in United States Cellular during the 4th quarter worth approximately $219,000. The Manufacturers Life Insurance Company increased its holdings in United States Cellular by 6.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,148 shares of the Wireless communications provider's stock valued at $227,000 after purchasing an additional 245 shares in the last quarter. Finally, Park Capital Management LLC WI bought a new position in United States Cellular in the 4th quarter valued at $459,000. Institutional investors and hedge funds own 18.03% of the company's stock.

United States Cellular Trading Down 1.1 %

USM stock traded down $0.70 during midday trading on Tuesday, reaching $62.78. The stock had a trading volume of 257,853 shares, compared to its average volume of 204,239. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of -174.38 and a beta of 0.40. United States Cellular Co. has a twelve month low of $33.38 and a twelve month high of $70.79. The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $65.80 and a two-hundred day simple moving average of $62.77.

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United States Cellular (NYSE:USM - Get Free Report) last posted its quarterly earnings results on Friday, February 21st. The Wireless communications provider reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.15. The business had revenue of $970.00 million during the quarter, compared to the consensus estimate of $964.70 million. United States Cellular had a negative net margin of 0.79% and a positive return on equity of 1.55%. During the same period in the previous year, the firm posted $0.23 earnings per share. As a group, research analysts expect that United States Cellular Co. will post 0.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

USM has been the topic of a number of research analyst reports. StockNews.com raised shares of United States Cellular from a "sell" rating to a "hold" rating in a report on Friday, February 21st. JPMorgan Chase & Co. raised their price target on shares of United States Cellular from $86.00 to $88.00 and gave the company an "overweight" rating in a report on Monday, February 24th.

United States Cellular Profile

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.