The most recent 13F filing that Assenagon Asset Management S.A. submitted to the Securities and Exchange Commission revealed that during the third quarter, the company’s holdings in United States Cellular Co. (NYSE: USM) decreased by 68.1%. (SEC). The company now owns 13,150 wireless communications carrier shares due to the sale of 28,094 shares during the quarter. According to the most recent report that Assenagon Asset Management S.A. submitted to the SEC, the company’s stake in United States Cellular had a value of 342,000 dollars at the time the report was written.
Recent events have resulted in institutional investors and other hedge funds reevaluating the positions they had previously held in the company and making appropriate adjustments. Point72 Hong Kong Ltd. increased the total amount of money it had invested in United States Cellular by approximately $32,000 during the year’s first quarter. The Whittier Trust Company participated in the third quarter’s stock purchase of United States Cellular by purchasing 42 thousand dollars worth of shares. During the second quarter, Captrust Financial Advisors executed a 129.3 percent increase in the proportion of United States Cellular stock owned by the firm. Captrust Financial Advisors now owns a total of 1,626 stock held by the wireless communications provider after making an additional purchase of 917 shares during the most recent fiscal quarter. There is a value of $47,000 associated with these shares. United States Cellular received a fresh investment from Amalgamated Bank, amounting to roughly $56,000 over the year’s first three months. And finally, during the second quarter, US Bancorp DE increased its stake in United States Cellular by 249.1%, bringing the total value of its holdings in the company to $5.8 million. This was accomplished by increasing its stake in United States Cellular during the second quarter. US Bancorp DE has a total ownership stake of 2,456 shares, with a market capitalization of $71,000. This was achieved due to the company purchasing an additional 1,748 shares during the preceding quarter. To the tune of 15.89% of the company’s shares, hedge funds and various other types of institutional investors are the owners of those shares.
Gregory P. Josefowicz, a company director, sold 1,834 shares on Friday, December 9th. Because each share was sold for an average of $19.61, the total amount obtained from the sale was 35,964.74 dollars. Following the completion of the transaction, the director will have a total of 18,981 shares in the company, each of which is approximately worth $372,217.41 at present. Access to the legal file that details the transaction’s disclosure can be gained through the Securities and Exchange Commission’s (SEC) website. This file can be found on the website. The company’s insiders own 0.23 percent of the total number of shares outstanding.
Several equity analysts have published recent reports on the company’s shares, and these reports are based on the most recent findings that these analysts have obtained. Raymond James downgraded United States Cellular from a “strong-buy” recommendation to a “market perform” rating in a research report published on November 7th. JPMorgan Chase & Co. changed their rating on shares of United States Cellular from “underweight” to “neutral” in a research note published on November 8th. At the same time, they reduced their price objective for the stock from $32.00 to $24.00. The more bullish stance that the company is taking on the stock is reflected in the fact that StockNews.com changed their recommendation on shares of United States Cellular from “sell” to “hold” in a research report published on Tuesday, January 10th.
Last but not least, in a research note published on January 10th, Wells Fargo & Company decreased their price objective on United States Cellular shares from $33.00 to $20.00. It changed the rating on the stock from “overweight” to “underweight.” The stock has been recommended to be sold by one of the research analysts, while the other four analysts have recommended keeping the stock in one’s portfolio. According to Bloomberg.com, the