23,700 Shares in Telephone and Data Systems, Inc. (NYSE:TDS) Acquired by Quantedge Capital Pte Ltd

Quantedge Capital Pte Ltd acquired a new position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 23,700 shares of the Wireless communications provider’s stock, valued at approximately $808,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Third Point LLC lifted its position in Telephone and Data Systems by 108.7% during the fourth quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider’s stock worth $204,660,000 after buying an additional 3,125,000 shares in the last quarter. American Century Companies Inc. lifted its position in Telephone and Data Systems by 6.7% during the fourth quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider’s stock worth $110,161,000 after buying an additional 203,897 shares in the last quarter. Gabelli Funds LLC lifted its position in Telephone and Data Systems by 1.1% during the fourth quarter. Gabelli Funds LLC now owns 1,899,767 shares of the Wireless communications provider’s stock worth $64,801,000 after buying an additional 20,721 shares in the last quarter. Carronade Capital Management LP purchased a new position in Telephone and Data Systems during the fourth quarter worth approximately $62,845,000. Finally, Nuveen Asset Management LLC lifted its position in Telephone and Data Systems by 0.5% during the fourth quarter. Nuveen Asset Management LLC now owns 1,465,935 shares of the Wireless communications provider’s stock worth $50,003,000 after buying an additional 6,914 shares in the last quarter. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Price Performance

TDS stock opened at $33.86 on Thursday. The business has a fifty day moving average of $35.93 and a two-hundred day moving average of $34.90. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of -6.27 and a beta of 0.57. Telephone and Data Systems, Inc. has a 52-week low of $16.64 and a 52-week high of $41.21.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings data on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.04 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.47%. Telephone and Data Systems’s payout ratio is presently -15.24%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Raymond James reissued an “outperform” rating and set a $47.00 target price (down previously from $51.00) on shares of Telephone and Data Systems in a research note on Monday, May 5th. JPMorgan Chase & Co. raised their target price on Telephone and Data Systems from $53.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th.

Telephone and Data Systems Profile

Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through two segments: UScellular and TDS Telecom. The company offers wireless solutions to consumers, and business and government customers, including a suite of connected Internet of things (IoT) solutions, and software applications for monitor and control, business automation/operations, communication, fleet and asset management, smart water solutions, private cellular networks and custom, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, fixed wireless home internet, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including audio, home automation and networking products.