Millennium Management LLC boosted its position in shares of T-Mobile US Inc (NASDAQ:TMUS) by 144.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,499,252 shares of the Wireless communications provider’s stock after acquiring an additional 1,476,469 shares during the period. Millennium Management LLC owned 0.29% of T-Mobile US worth $158,727,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Cornerstone Capital Management Holdings LLC. lifted its position in T-Mobile US by 110.5% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 136,416 shares of the Wireless communications provider’s stock worth $8,663,000 after acquiring an additional 71,600 shares during the last quarter. OLD Mission Capital LLC acquired a new position in T-Mobile US during the 4th quarter worth $420,000. HBK Investments L P lifted its position in T-Mobile US by 2.9% during the 4th quarter. HBK Investments L P now owns 350,500 shares of the Wireless communications provider’s stock worth $22,260,000 after acquiring an additional 9,900 shares during the last quarter. Halcyon Management Partners LP acquired a new position in T-Mobile US during the 4th quarter worth $3,270,000. Finally, Two Sigma Investments LP acquired a new position in T-Mobile US during the 4th quarter worth $96,296,000. 35.68% of the stock is owned by hedge funds and other institutional investors.
T-Mobile US Inc (NASDAQ TMUS) opened at $65.17 on Wednesday. T-Mobile US Inc has a 52-week low of $54.60 and a 52-week high of $68.88. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.77 and a quick ratio of 0.64. The stock has a market cap of $55,153.37, a PE ratio of 12.47, a P/E/G ratio of 0.84 and a beta of 0.46.
T-Mobile US announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 6th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the Wireless communications provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
A number of research analysts have weighed in on the stock. Guggenheim initiated coverage on shares of T-Mobile US in a research report on Tuesday. They set a “buy” rating and a $80.00 target price for the company. Jefferies Group reaffirmed a “top pick” rating and set a $62.78 price objective (down previously from $72.00) on shares of T-Mobile US in a research report on Tuesday, November 28th. Bank of America upped their price objective on shares of T-Mobile US from $40.00 to $45.00 and gave the company an “underperform” rating in a research report on Friday, February 9th. Morgan Stanley upped their price objective on shares of T-Mobile US from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Finally, BidaskClub lowered shares of T-Mobile US from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and four have given a strong buy rating to the company’s stock. T-Mobile US presently has an average rating of “Buy” and an average price target of $70.65.
In other T-Mobile US news, insider Thomas Christopher Keys sold 25,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $65.50, for a total transaction of $1,637,500.00. Following the sale, the insider now directly owns 406,883 shares of the company’s stock, valued at $26,650,836.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David A. Miller sold 15,000 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $62.78, for a total transaction of $941,700.00. Following the sale, the executive vice president now directly owns 104,448 shares in the company, valued at $6,557,245.44. The disclosure for this sale can be found here. In the last three months, insiders purchased 1,840,000 shares of company stock valued at $110,974,950 and sold 113,872 shares valued at $7,300,318. Corporate insiders own 0.29% of the company’s stock.
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About T-Mobile US
T-Mobile US, Inc, together with its subsidiaries, provides mobile communications services in the United States, Puerto Rico, and the U.S. Virgin Islands. The company offers voice, messaging, and data services to approximately 71 million customers in the postpaid, prepaid, and wholesale markets. It also provides wireless devices, including smartphones, tablets, and other mobile communication devices, as well as accessories that are manufactured by various suppliers.
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