Investors Purchase High Volume of United States Cellular Put Options (USM)

Investors Purchase High Volume of United States Cellular Put Options (USM)

United States Cellular Corp (NYSE:USM) was the recipient of some unusual options trading on Tuesday. Traders bought 1,506 put options on the stock. This is an increase of approximately 1,134% compared to the average daily volume of 122 put options.

USM has been the subject of several recent research reports. Zacks Investment Research raised United States Cellular from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Wednesday, January 30th. B. Riley set a $50.00 target price on United States Cellular and gave the stock a “hold” rating in a report on Tuesday, February 26th. Finally, Raymond James dropped their target price on United States Cellular from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. United States Cellular presently has an average rating of “Buy” and a consensus price target of $52.20.

In other United States Cellular news, EVP Steven T. Campbell sold 4,703 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $48.17, for a total value of $226,543.51. Following the completion of the transaction, the executive vice president now owns 23,935 shares of the company’s stock, valued at approximately $1,152,948.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Deirdre Drake sold 6,530 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $46.59, for a total value of $304,232.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,338 shares of company stock valued at $2,973,280. Insiders own 0.62% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of USM. Advisor Group Inc. raised its holdings in shares of United States Cellular by 325.2% in the 4th quarter. Advisor Group Inc. now owns 523 shares of the Wireless communications provider’s stock worth $27,000 after buying an additional 400 shares in the last quarter. Bank of Montreal Can increased its holdings in United States Cellular by 46.9% during the 4th quarter. Bank of Montreal Can now owns 796 shares of the Wireless communications provider’s stock valued at $41,000 after purchasing an additional 254 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in United States Cellular by 40.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,258 shares of the Wireless communications provider’s stock valued at $65,000 after purchasing an additional 365 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in United States Cellular by 92.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,802 shares of the Wireless communications provider’s stock valued at $82,000 after purchasing an additional 868 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in United States Cellular during the 4th quarter valued at $94,000. 16.65% of the stock is owned by institutional investors and hedge funds.

Shares of USM opened at $47.50 on Thursday. United States Cellular has a 1 year low of $32.33 and a 1 year high of $59.74. The company has a quick ratio of 2.42, a current ratio of 2.62 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $4.35 billion, a PE ratio of 27.62, a P/E/G ratio of 41.92 and a beta of 0.68.

United States Cellular (NYSE:USM) last issued its earnings results on Thursday, May 2nd. The Wireless communications provider reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.16. United States Cellular had a return on equity of 3.78% and a net margin of 4.01%. The business had revenue of $966.00 million during the quarter, compared to analysts’ expectations of $980.16 million. During the same period in the prior year, the firm posted $0.52 EPS. United States Cellular’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts expect that United States Cellular will post 1.2 earnings per share for the current year.

United States Cellular Company Profile

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers postpaid and prepaid service plans with voice, messaging, and data usage option services; and smartphone messaging, data, and Internet services, which allow the customer to access the Web and social network sites, e-mail, text, picture, and video messaging, as well as to utilize GPS navigation, and browse and download various applications.

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