Fernbridge Capital Management LP Cuts Stake in T-Mobile US, Inc. $TMUS

Fernbridge Capital Management LP lessened its stake in shares of T-Mobile US, Inc. (NASDAQ:TMUS) by 56.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 86,965 shares of the Wireless communications provider’s stock after selling 113,316 shares during the quarter. T-Mobile US makes up about 1.0% of Fernbridge Capital Management LP’s portfolio, making the stock its 23rd largest position. Fernbridge Capital Management LP’s holdings in T-Mobile US were worth $20,818,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Howard Hughes Medical Institute purchased a new position in T-Mobile US in the second quarter valued at about $25,000. United Community Bank increased its stake in shares of T-Mobile US by 131.1% during the 3rd quarter. United Community Bank now owns 104 shares of the Wireless communications provider’s stock worth $25,000 after purchasing an additional 59 shares during the last quarter. Elevation Wealth Partners LLC raised its holdings in shares of T-Mobile US by 190.0% in the 3rd quarter. Elevation Wealth Partners LLC now owns 116 shares of the Wireless communications provider’s stock worth $28,000 after purchasing an additional 76 shares during the period. CoreFirst Bank & Trust bought a new stake in shares of T-Mobile US in the 2nd quarter worth approximately $31,000. Finally, Kilter Group LLC purchased a new position in T-Mobile US in the second quarter valued at approximately $34,000. Institutional investors own 42.49% of the company’s stock.

T-Mobile US Trading Up 1.4%

NASDAQ:TMUS opened at $217.39 on Friday. T-Mobile US, Inc. has a 1 year low of $181.36 and a 1 year high of $272.60. The stock’s fifty day moving average price is $204.16 and its two-hundred day moving average price is $214.76. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.00 and a quick ratio of 0.90. The company has a market cap of $239.53 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.39 and a beta of 0.43.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wells Fargo & Company increased their price objective on T-Mobile US from $225.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, February 13th. UBS Group reaffirmed a “buy” rating on shares of T-Mobile US in a research report on Thursday, February 12th. Scotiabank cut their price target on T-Mobile US from $270.50 to $266.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 12th. Morgan Stanley decreased their price objective on T-Mobile US from $280.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Finally, Sanford C. Bernstein reaffirmed a “neutral” rating on shares of T-Mobile US in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, T-Mobile US currently has an average rating of “Moderate Buy” and a consensus price target of $257.09.

Insider Activity at T-Mobile US

In other news, CFO Peter Osvaldik sold 27,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $214.86, for a total transaction of $5,801,220.00. Following the sale, the chief financial officer directly owned 51,573 shares in the company, valued at $11,080,974.78. This represents a 34.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark Wolfe Nelson sold 2,329 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $222.38, for a total transaction of $517,923.02. Following the completion of the sale, the insider directly owned 65,677 shares in the company, valued at approximately $14,605,251.26. The trade was a 3.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 694,134 shares of company stock worth $150,847,799 in the last 90 days. 0.37% of the stock is owned by company insiders.

About T-Mobile US

T-Mobile US is a national wireless carrier that provides mobile voice, messaging and data services to consumers, businesses and wholesale customers across the United States, Puerto Rico and the U.S. Virgin Islands. The company operates a nationwide mobile network and offers device sales, equipment financing and support services through retail stores, online channels and distribution partners. T-Mobile positions its products around bundled service plans, device offerings and value-added features for both individual and enterprise customers.

Product offerings include postpaid and prepaid wireless plans under the T-Mobile and Metro by T-Mobile brands, as well as connectivity solutions for small and large businesses.