USM - Deirdre Drake's Recent Buy: Acquires $121K In United States Cellular Stock | Benzinga
On May 22, a substantial insider purchase was made by Deirdre Drake, Director at United States Cellular (NYSE:USM), as per the latest SEC filing.
What Happened: In a recent Form 4 filing with the U.S. Securities and Exchange Commission on Wednesday, Drake increased their investment in United States Cellular by purchasing 2,836 shares through open-market transactions, signaling confidence in the company's potential. The total transaction value is $121,976.
United States Cellular shares are trading up 0.62% at $43.95 at the time of this writing on Thursday morning.
Unveiling the Story Behind United States Cellular
U.S. Cellular is a regional wireless carrier that serves about 4.5 million customers spread across four major geographic clusters: the Midwest, mid-Atlantic, New England, and the Pacific Northwest. These service territories encompass a total population of about 32 million people. The vast majority of the markets the firm serves are rural or second/third-tier cities, with only the greater Milwaukee and Oklahoma City regions boasting populations greater than 1 million. U.S. Cellular also owns a 5.5% stake in Verizon Wireless' Los Angeles operations and, unlike its wireless carrier peers, owns most of its own towers.
Financial Milestones: United States Cellular's Journey
Decline in Revenue: Over the 3 months period, United States Cellular faced challenges, resulting in a decline of approximately -3.65% ...