T-Mobile US Inc. (NASDAQ:TMUS) invested a record-breaking $7.99 billion when it won 45% of all low-band spectrum sold in 600 MHz FCC spectrum auction and quadrupling its low-band holdings to-date. Shares of T-Mobile closed 0.19% in green to $64.04 on Thursday, before rising 0.55% to $64.39 in after-hours trading.
The “un-carrier,” with a $52.93 billion market cap, said the successful auction will allow the company to cover 100% of US and Puerto Rico and expand its market reach by walking away with 31 MHz – its largest investment so far.
“T-Mobile’s new low-band spectrum will be clear and wide-open for customers, meaning a better, faster experience. With this purchase, T-Mobile US Inc. (NASDAQ:TMUS) now has significantly more low-band spectrum per customer than any other major provider and nearly TRIPLE the low-band spectrum per customer than Verizon,” T-Mobile President and CEO John Legere said.
T-Mobile is also sharing plans to put that spectrum to use later this year in parts of the country, defying industry expectations.
What Does The Smart Money Sentiment Say?
Smart Money showed bullish sentiment over T-Mobile US Inc. (NASDAQ:TMUS) as we saw an uptick in positions held, quarter over quarter. Out of the 742 hedge funds we track at Insider Monkey, we saw 65 funds hold shares of the un-carrier valued at $4.37 billion in the fourth quarter of 2016, compared to only 58 funds with shares valued at $3.34 billion in the third quarter of the same year.
If we look closer into hedge fund activities, we saw a 39% decrease in Andreas Halvorsen‘s activity on T-Mobile shares during Q4. Halvorsen currently holds 8.4 million shares valued at $483 million.
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The Bottom Line
T-Mobile US Inc. (NASDAQ:TMUS) is in positive territories after winning 45% of all low-band spectrum sold in 600 MHz FCC spectrum auction and quadrupling its low-band holdings to-date. For further reading, check out these 11 countries with the fastest internet speed in the world.