Should You Buy United States Cellular Corporation (USM)?

Judging by the fact that United States Cellular Corp (NYSE:USM) has witnessed no change in sentiment from the aggregate hedge fund industry, we look to see if there are any funds that slashed their entire stakes in the third quarter. At the top of the heap, Ken Griffin’s Citadel Investment Group cut the largest position of the “upper crust” of funds studied by Insider Monkey, worth close to $0.3 million in stock, and Glenn Russell Dubin’s Highbridge Capital Management was right behind this move, as the fund said goodbye to about $0.3 million worth of shares.

Let’s go over hedge fund activity in other stocks similar to United States Cellular Corp (NYSE:USM). These stocks are B&G Foods, Inc. (NYSE:BGS), PS Business Parks Inc (NYSE:PSB), National Health Investors Inc (NYSE:NHI), and Fresh Del Monte Produce Inc (NYSE:FDP). This group of stocks’ market caps are similar to USM’s market cap.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $136 million. That figure was $143 million in USM’s case. B&G Foods, Inc. (NYSE:BGS) is the most popular stock in this table. On the other hand PS Business Parks Inc (NYSE:PSB) is the least popular one with only 7 bullish hedge fund positions. United States Cellular Corp (NYSE:USM) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BGS might be a better candidate to consider taking a long position in.

Disclosure: none.