United States Cellular (NYSE:USM) Shares Gap Down – Here’s Why

United States Cellular Co. (NYSE:USM) shares gapped down before the market opened on Friday . The stock had previously closed at $61.70, but opened at $59.61. United States Cellular shares last traded at $60.96, with a volume of 31,332 shares changing hands.

United States Cellular Stock Performance

The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average of $56.90 and a 200-day moving average of $51.83. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 70.74 and a beta of 0.48.

United States Cellular (NYSE:USM) last issued its earnings results on Friday, August 2nd. The Wireless communications provider reported $0.20 EPS for the quarter, topping analysts’ consensus estimates 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%. United States Cellular’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 earnings per share. As a group, sell-side analysts predict that United States Cellular Co. will post 0.61 earnings per share for the current year.

Insider Transactions at United States Cellular

In related news, EVP Kevin R. Lowell sold 37,597 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.34, for a total transaction of $1,855,035.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Summit Securities Group LLC bought a new position in shares of United States Cellular during the 2nd quarter valued at about $28,000. SG Americas Securities LLC bought a new stake in shares of United States Cellular during the second quarter valued at approximately $115,000. Bailard Inc. acquired a new stake in United States Cellular in the 2nd quarter valued at $207,000. Invesco LLC acquired a new position in United States Cellular in the second quarter worth $214,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of United States Cellular during the second quarter worth $218,000. 18.03% of the stock is owned by institutional investors and hedge funds.

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.