United States Cellular Corp. (NYSE:USM)’s share price was up 3.7% during trading on Friday . The company traded as high as $41.26 and last traded at $41.05, with a volume of 60,229 shares traded. The stock had previously closed at $39.57.

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

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

United States Cellular Corp. (NYSE:USM) last issued its earnings results on Friday, May 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.16. The company earned $958 million during the quarter, compared to analyst estimates of $975.59 million. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 EPS. Equities research analysts expect that United States Cellular Corp. will post $0.51 EPS for the current year.

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

Several institutional investors recently modified their holdings of USM. Globeflex Capital L P bought a new position in shares of United States Cellular Corp. during the fourth quarter worth about $1,321,000. Cornerstone Capital Management Holdings LLC. increased its position 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. California Public Employees Retirement System increased its position 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. California State Teachers Retirement System increased its position in shares of 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 in the last quarter. Finally, Russell Frank Co increased its position 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.

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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