Empyrean Capital Partners LP Trims Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Empyrean Capital Partners LP decreased its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 13.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 325,000 shares of the Wireless communications provider's stock after selling 50,000 shares during the period. Empyrean Capital Partners LP owned approximately 0.29% of Telephone and Data Systems worth $11,086,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new stake in Telephone and Data Systems during the fourth quarter valued at $41,000. Federated Hermes Inc. bought a new stake in Telephone and Data Systems during the fourth quarter valued at $56,000. SBI Securities Co. Ltd. bought a new stake in Telephone and Data Systems during the fourth quarter valued at $74,000. Farther Finance Advisors LLC boosted its stake in Telephone and Data Systems by 74.5% during the fourth quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider's stock valued at $92,000 after buying an additional 1,156 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Telephone and Data Systems by 139.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,749 shares of the Wireless communications provider's stock valued at $128,000 after buying an additional 2,186 shares during the period. Institutional investors own 80.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TDS shares. JPMorgan Chase & Co. raised their price target on Telephone and Data Systems from $53.00 to $56.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Raymond James restated an "outperform" rating and set a $47.00 price target (down previously from $51.00) on shares of Telephone and Data Systems in a research report on Monday, May 5th.

Telephone and Data Systems Price Performance

NYSE TDS traded up $0.63 during trading hours on Wednesday, reaching $33.87. 413,175 shares of the stock traded hands, compared to its average volume of 1,051,395. The stock has a 50 day simple moving average of $35.96 and a two-hundred day simple moving average of $34.91. Telephone and Data Systems, Inc. has a 1 year low of $16.64 and a 1 year high of $41.21. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44. The company 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 (NYSE:TDS - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The Wireless communications provider reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The company 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 firm's quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 EPS. On average, analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

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

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.