United States Cellular Corp. (NYSE:USM) saw unusually-strong trading volume on Thursday . Approximately 121,377 shares traded hands during trading, an increase of 76% from the previous session’s volume of 68,987 shares.The stock last traded at $39.57 and had previously closed at $40.35.

Separately, Zacks Investment Research downgraded shares of United States Cellular Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th.

The stock’s 50 day moving average price is $38.86 and its 200-day moving average price is $39.44. The firm has a market capitalization of $3.46 billion and a PE ratio of 39.17.

United States Cellular Corp. (NYSE:USM) last announced its quarterly earnings results on Friday, May 6th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by $0.16. The company had revenue of $958 million for the quarter, compared to analyst estimates of $975.59 million. During the same quarter last year, the company earned $1.89 EPS. United States Cellular Corp.’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities analysts predict that United States Cellular Corp. will post $0.51 EPS for the current fiscal year.

In related news, Director J Samuel Crowley sold 2,025 shares of the stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $42.83, for a total value of $86,730.75. Following the sale, the director now directly owns 4,045 shares in the company, valued at approximately $173,247.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Several hedge funds have recently made changes to their positions in the stock. California Public Employees Retirement System increased its stake in shares of United States Cellular Corp. by 4.0% in the fourth quarter. California Public Employees Retirement System now owns 105,855 shares of the company’s stock worth $4,320,000 after buying an additional 4,100 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in shares of United States Cellular Corp. by 22.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 93,942 shares of the company’s stock worth $3,834,000 after buying an additional 16,963 shares in the last quarter. Russell Frank Co increased its stake in shares of United States Cellular Corp. by 384.9% in the fourth quarter. Russell Frank Co now owns 42,170 shares of the company’s stock worth $1,726,000 after buying an additional 33,474 shares in the last quarter. Globeflex Capital L P acquired a new stake in United States Cellular Corp. during the fourth quarter worth about $1,321,000. Finally, California State Teachers Retirement System boosted its stake in United States Cellular Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 25,163 shares of the company’s stock worth $1,027,000 after buying an additional 408 shares during the last quarter.

United States Cellular Corporation (U.S. Cellular) is a provider of wireless telecommunication services. The Company operates all of its wireless operating markets are in the United States. U.S. Cellular provides service to postpaid and prepaid customers from a range of demographic segments. The Company focuses on retail consumers, government and small-to-mid-size business customers in vertical industries, such as construction, retail, professional services and real estate.

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