United States Cellular Target of Unusually High Options Trading (NYSE:USM)

Posted by Defense World Staff on Aug 30th, 2023

United States Cellular Co. (NYSE:USM – Get Free Report) saw some unusual options trading on Tuesday. Investors purchased 5,708 call options on the stock. This is an increase of 789% compared to the average volume of 642 call options.

Institutional Trading of United States Cellular

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its stake in shares of United States Cellular by 157.4% in the third quarter. Tower Research Capital LLC TRC now owns 1,058 shares of the Wireless communications provider’s stock worth $28,000 after buying an additional 647 shares during the last quarter. UBS Group AG boosted its position in United States Cellular by 85.1% during the third quarter. UBS Group AG now owns 1,146 shares of the Wireless communications provider’s stock worth $30,000 after purchasing an additional 527 shares in the last quarter. Quarry LP purchased a new position in United States Cellular during the first quarter worth approximately $31,000. Point72 Hong Kong Ltd purchased a new position in United States Cellular during the first quarter worth approximately $32,000. Finally, Signaturefd LLC boosted its position in United States Cellular by 206.5% during the second quarter. Signaturefd LLC now owns 1,851 shares of the Wireless communications provider’s stock worth $33,000 after purchasing an additional 1,247 shares in the last quarter. Hedge funds and other institutional investors own 16.76% of the company’s stock.

United States Cellular Trading Up 8.5 %

Shares of USM opened at $45.29 on Wednesday. United States Cellular has a 52 week low of $13.79 and a 52 week high of $45.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.28 and a current ratio of 1.49. The stock’s 50-day moving average price is $25.24 and its 200-day moving average price is $21.53.

United States Cellular (NYSE:USM – Get Free Report) last issued its earnings results on Friday, August 4th. The Wireless communications provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.15). United States Cellular had a negative return on equity of 0.48% and a negative net margin of 0.54%. The company had revenue of $957.00 million during the quarter, compared to analysts’ expectations of $993.09 million. During the same quarter in the previous year, the company earned $0.25 EPS. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. As a group, equities analysts predict that United States Cellular will post 0.27 EPS for the current year.

Analyst Upgrades and Downgrades

USM has been the topic of several recent analyst reports. Citigroup upped their target price on United States Cellular from $29.00 to $53.00 in a research report on Friday, August 18th. Wells Fargo & Company raised United States Cellular from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $16.00 to $38.00 in a report on Tuesday, August 8th. Morgan Stanley increased their price objective on United States Cellular from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Tuesday, July 25th. JPMorgan Chase & Co. raised United States Cellular from a “neutral” rating to an “overweight” rating and set a $52.00 price objective on the stock in a report on Tuesday, August 8th. Finally, StockNews.com started coverage on United States Cellular in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $42.50.

Read Our Latest Stock Analysis on USM

United States Cellular Company Profile

(Get Free Report)

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 various essentials, including cases, screen protectors, chargers, and memory cards; and consumer electronics comprising audio, home automation, and networking products.