First Trust Advisors LP purchased a new stake in shares of United States Cellular Corp. (NYSE:USM) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 67,911 shares of the company’s stock, valued at approximately $2,667,000. First Trust Advisors LP owned about 0.08% of United States Cellular Corp. as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. DIAM Co. Ltd. bought a new position in shares of United States Cellular Corp. during the second quarter valued at about $125,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of United States Cellular Corp. during the first quarter valued at about $210,000. Jacobs Levy Equity Management Inc. boosted its position in shares of United States Cellular Corp. by 5.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 5,700 shares of the company’s stock valued at $260,000 after buying an additional 300 shares during the period. Gabelli Securities Inc. boosted its position in shares of United States Cellular Corp. by 4.7% in the second quarter. Gabelli Securities Inc. now owns 8,900 shares of the company’s stock valued at $350,000 after buying an additional 400 shares during the period. Finally, Palo Capital Inc. bought a new position in shares of United States Cellular Corp. during the second quarter valued at about $408,000. Hedge funds and other institutional investors own 15.01% of the company’s stock.

Shares of United States Cellular Corp. (NYSE:USM) traded down 1.34% during midday trading on Tuesday, reaching $36.04. The company’s stock had a trading volume of 61,652 shares. The company has a market capitalization of $3.06 billion, a P/E ratio of 31.12 and a beta of 0.69. United States Cellular Corp. has a 1-year low of $32.72 and a 1-year high of $45.87. The stock has a 50 day moving average of $38.00 and a 200-day moving average of $39.75.

United States Cellular Corp. (NYSE:USM) last posted its quarterly earnings data on Friday, August 5th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The company earned $980 million during the quarter, compared to analysts’ expectations of $973.14 million. United States Cellular Corp. had a net margin of 2.45% and a return on equity of 2.30%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 EPS. On average, equities research analysts anticipate that United States Cellular Corp. will post $0.51 earnings per share for the current year.

Separately, Zacks Investment Research upgraded United States Cellular Corp. from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Tuesday, August 9th.

About United States Cellular Corp.

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.

5 Day Chart for NYSE:USM

Want to see what other hedge funds are holding USM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United States Cellular Corp. (NYSE:USM).

Receive News & Ratings for United States Cellular Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United States Cellular Corp. and related companies with MarketBeat.com's FREE daily email newsletter.