Short Interest in United States Cellular Co. (NYSE:USM) Decreases By 16.9%

United States Cellular Co. (NYSE:USM) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 552,900 shares, a drop of 16.9% from the December 31st total of 665,700 shares. Approximately 3.8% of the shares of the company are sold short. Based on an average daily trading volume, of 138,900 shares, the days-to-cover ratio is presently 4.0 days.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on USM shares. StockNews.com upgraded shares of United States Cellular from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Raymond James upgraded shares of United States Cellular from a “market perform” rating to an “outperform” rating and set a $86.00 price target on the stock in a research report on Thursday, November 7th. Finally, Wells Fargo & Company raised their price target on shares of United States Cellular from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th.

United States Cellular Trading Down 0.4 %

NYSE:USM traded down $0.27 during mid-day trading on Monday, hitting $62.53. 79,462 shares of the company’s stock were exchanged, compared to its average volume of 114,455. The company has a 50 day simple moving average of $62.61 and a 200-day simple moving average of $58.91. The company has a current ratio of 1.57, a quick ratio of 1.39 and a debt-to-equity ratio of 0.63. United States Cellular has a fifty-two week low of $32.01 and a fifty-two week high of $68.31. The firm has a market capitalization of $5.38 billion, a P/E ratio of -173.69 and a beta of 0.47.

United States Cellular (NYSE:USM) last issued its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.13. The company had revenue of $922.00 million for the quarter, compared to the consensus estimate of $940.40 million. United States Cellular had a negative net margin of 0.79% and a positive return on equity of 1.55%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. As a group, research analysts expect that United States Cellular will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On United States Cellular

Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in shares of United States Cellular by 6.3% in the third quarter. The Manufacturers Life Insurance Company now owns 4,148 shares of the Wireless communications provider’s stock worth $227,000 after purchasing an additional 245 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of United States Cellular by 0.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,029 shares of the Wireless communications provider’s stock worth $1,969,000 after purchasing an additional 264 shares during the last quarter. R Squared Ltd bought a new position in United States Cellular during the fourth quarter valued at approximately $38,000. Creative Planning grew its position 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 valued at $396,000 after acquiring an additional 800 shares during the last quarter. Finally, Innealta Capital LLC grew its position in United States Cellular by 22.9% during the third quarter. Innealta Capital LLC now owns 5,329 shares of the Wireless communications provider’s stock valued at $291,000 after acquiring an additional 994 shares during the last quarter. 18.03% of the stock is currently owned by institutional investors.

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.