United States Cellular Corporation (NYSE:USM) was in 6 hedge funds’ portfolio at the end of March. USM shareholders have witnessed a decrease in hedge fund sentiment lately. There were 8 hedge funds in our database with USM holdings at the end of the previous quarter.
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With these “truths” under our belt, let’s take a gander at the latest action regarding United States Cellular Corporation (NYSE:USM).
Hedge fund activity in United States Cellular Corporation (NYSE:USM)
At the end of the first quarter, a total of 6 of the hedge funds we track held long positions in this stock, a change of -25% from the previous quarter. With hedgies’ sentiment swirling, there exists a few notable hedge fund managers who were upping their stakes substantially.
Of the funds we track, Mario Gabelli’s GAMCO Investors had the largest position in United States Cellular Corporation (NYSE:USM), worth close to $134.2 million, comprising 0.9% of its total 13F portfolio. The second largest stake is held by Charles de Vaulx of International Value Advisers, with a $19.5 million position; the fund has 0.4% of its 13F portfolio invested in the stock. Remaining hedgies with similar optimism include Jim Simons’s Renaissance Technologies, Ken Griffin’s Citadel Investment Group and D. E. Shaw’s D E Shaw.
Seeing as United States Cellular Corporation (NYSE:USM) has experienced a declination in interest from the smart money, it’s easy to see that there lies a certain “tier” of fund managers that elected to cut their positions entirely last quarter. Interestingly, John Overdeck and David Siegel’s Two Sigma Advisors dropped the biggest investment of the 450+ funds we track, comprising about $0.8 million in stock.. Paul Tudor Jones’s fund, Tudor Investment Corp, also cut its stock, about $0.7 million worth. These moves are important to note, as total hedge fund interest dropped by 2 funds last quarter.
What have insiders been doing with United States Cellular Corporation (NYSE:USM)?
Insider trading activity, especially when it’s bullish, is at its handiest when the company in focus has experienced transactions within the past half-year. Over the latest six-month time frame, United States Cellular Corporation (NYSE:USM) has experienced zero unique insiders buying, and 2 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to United States Cellular Corporation (NYSE:USM). These stocks are Clearwire Corporation (NASDAQ:CLWR), InterDigital, Inc. (NASDAQ:IDCC), Portugal Telecom, SGPS (ADR) (NYSE:PT), Telephone & Data Systems, Inc. (NYSE:TDS), and MetroPCS Communications Inc (NYSE:PCS). All of these stocks are in the wireless communications industry and their market caps resemble USM’s market cap.