Telephone and Data Systems, Inc. (NYSE:TDS) Shares Sold by Private Management Group Inc.

Private Management Group Inc. cut its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 21.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,775,419 shares of the Wireless communications provider’s stock after selling 480,697 shares during the quarter. Telephone and Data Systems comprises approximately 1.5% of Private Management Group Inc.’s portfolio, making the stock its 11th largest holding. Private Management Group Inc. owned about 1.57% of Telephone and Data Systems worth $41,278,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Blue Trust Inc. raised its stake in Telephone and Data Systems by 4,082.9% during the 2nd quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider’s stock valued at $36,000 after acquiring an additional 1,674 shares during the last quarter. Quarry LP purchased a new stake in shares of Telephone and Data Systems during the second quarter worth approximately $40,000. CWM LLC lifted its holdings in shares of Telephone and Data Systems by 57.0% during the second quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider’s stock worth $82,000 after purchasing an additional 1,430 shares during the period. Neo Ivy Capital Management purchased a new position in Telephone and Data Systems in the 2nd quarter valued at $88,000. Finally, GAMMA Investing LLC increased its stake in Telephone and Data Systems by 13.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,812 shares of the Wireless communications provider’s stock valued at $100,000 after buying an additional 585 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Stock Performance

Shares of TDS stock traded down $2.27 during mid-day trading on Friday, hitting $27.48. The stock had a trading volume of 1,625,400 shares, compared to its average volume of 984,933. The firm has a market cap of $3.11 billion, a PE ratio of -5.69 and a beta of 0.77. The company’s 50-day simple moving average is $24.58 and its 200-day simple moving average is $21.28. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.51 and a quick ratio of 1.37. Telephone and Data Systems, Inc. has a fifty-two week low of $13.69 and a fifty-two week high of $30.44.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.15. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.24 billion. Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 9.31%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.16) EPS. Sell-side analysts anticipate that Telephone and Data Systems, Inc. will post -0.44 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.58%. The ex-dividend date was Monday, September 16th. Telephone and Data Systems’s payout ratio is -3.31%.

About Telephone and Data Systems

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.