Bank of New York Mellon Corp Decreases Holdings in United States Cellular Co. (NYSE:USM)

Bank of New York Mellon Corp reduced its holdings in United States Cellular Co. (NYSE:USM - Free Report) by 39.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,502 shares of the Wireless communications provider's stock after selling 6,822 shares during the quarter. Bank of New York Mellon Corp's holdings in United States Cellular were worth $659,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Skylands Capital LLC purchased a new stake in shares of United States Cellular in the 4th quarter worth about $1,022,000. Venturi Wealth Management LLC raised its stake in United States Cellular by 1,917.3% during the fourth quarter. Venturi Wealth Management LLC now owns 2,219 shares of the Wireless communications provider's stock valued at $139,000 after buying an additional 2,109 shares during the last quarter. Park Capital Management LLC WI bought a new stake in United States Cellular in the fourth quarter worth $459,000. Invesco LLC purchased a new stake in shares of United States Cellular in the fourth quarter worth $219,000. Finally, R Squared Ltd bought a new position in shares of United States Cellular during the fourth quarter valued at $38,000. 18.03% of the stock is owned by hedge funds and other institutional investors.

United States Cellular Price Performance

Shares of NYSE USM traded down $0.60 during midday trading on Friday, reaching $69.36. The stock had a trading volume of 289,419 shares, compared to its average volume of 201,643. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.39 and a current ratio of 1.57. United States Cellular Co. has a 12-month low of $33.38 and a 12-month high of $70.49. The stock has a 50-day moving average of $65.32 and a 200-day moving average of $62.26. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of -192.65 and a beta of 0.46.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on USM shares. StockNews.com raised shares of United States Cellular from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their price target on United States Cellular from $86.00 to $88.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th.

United States Cellular Company 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.