Carronade Capital Management LP Makes New $62.85 Million Investment in Telephone and Data Systems, Inc. (NYSE:TDS)

Carronade Capital Management LP acquired a new stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,842,409 shares of the Wireless communications provider's stock, valued at approximately $62,845,000. Telephone and Data Systems accounts for about 3.5% of Carronade Capital Management LP's investment portfolio, making the stock its 2nd largest holding. Carronade Capital Management LP owned about 1.63% of Telephone and Data Systems at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TDS. World Investment Advisors LLC bought a new stake in shares of Telephone and Data Systems during the 3rd quarter valued at about $294,000. Franklin Resources Inc. grew its position in Telephone and Data Systems by 2.5% during the third quarter. Franklin Resources Inc. now owns 78,508 shares of the Wireless communications provider's stock valued at $1,855,000 after buying an additional 1,938 shares during the period. Versant Capital Management Inc increased its holdings in Telephone and Data Systems by 14.5% during the fourth quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider's stock valued at $82,000 after buying an additional 303 shares during the last quarter. GAMMA Investing LLC raised its position in Telephone and Data Systems by 8.3% in the fourth quarter. GAMMA Investing LLC now owns 5,742 shares of the Wireless communications provider's stock worth $196,000 after acquiring an additional 440 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in shares of Telephone and Data Systems during the 4th quarter worth $710,000. Hedge funds and other institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Price Performance

Shares of TDS traded up $0.61 during mid-day trading on Friday, reaching $34.57. The stock had a trading volume of 604,110 shares, compared to its average volume of 1,056,998. The business has a fifty day moving average of $36.01 and a 200 day moving average of $34.84. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -6.40 and a beta of 0.57. Telephone and Data Systems, Inc. has a 12 month low of $16.64 and a 12 month high of $41.21.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.18 billion. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The company's quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. Equities analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.46%. The ex-dividend date was Monday, March 17th. Telephone and Data Systems's dividend payout ratio (DPR) is presently -15.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Raymond James reaffirmed an "outperform" rating and issued a $47.00 target price (down from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th. JPMorgan Chase & Co. raised their price objective 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 Company 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.