140 Summer Partners LP Purchases Shares of 547,649 Telephone and Data Systems, Inc. $TDS

Key Points

• 140 Summer Partners LP invested approximately $21.22 million in Telephone and Data Systems, acquiring 547,649 shares, which constitutes 2.7% of its investment portfolio.
• Telephone and Data Systems reported a loss of ($0.05) EPS for the last quarter, missing estimates, while its revenue was $1.19 billion, slightly exceeding expectations but down 5.7% year-over-year.
• The company announced a quarterly dividend of $0.04 payable on September 30th, reflecting an annualized yield of 0.4%.

140 Summer Partners LP acquired a new position in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 547,649 shares of the Wireless communications provider's stock, valued at approximately $21,216,000. Telephone and Data Systems makes up approximately 2.7% of 140 Summer Partners LP's investment portfolio, making the stock its 13th biggest holding. 140 Summer Partners LP owned approximately 0.48% of Telephone and Data Systems at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in Telephone and Data Systems by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 6,354,795 shares of the Wireless communications provider's stock worth $246,181,000 after purchasing an additional 107,501 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Telephone and Data Systems by 7.5% in the 1st quarter. American Century Companies Inc. now owns 3,470,363 shares of the Wireless communications provider's stock worth $134,442,000 after buying an additional 240,795 shares during the last quarter. Carronade Capital Management LP increased its holdings in shares of Telephone and Data Systems by 48.2% during the first quarter. Carronade Capital Management LP now owns 2,730,517 shares of the Wireless communications provider's stock valued at $105,780,000 after acquiring an additional 888,108 shares in the last quarter. Gabelli Funds LLC increased its holdings in shares of Telephone and Data Systems by 0.8% during the first quarter. Gabelli Funds LLC now owns 1,915,425 shares of the Wireless communications provider's stock valued at $74,204,000 after acquiring an additional 15,658 shares in the last quarter. Finally, Silver Point Capital L.P. increased its holdings in shares of Telephone and Data Systems by 47.2% during the fourth quarter. Silver Point Capital L.P. now owns 1,840,000 shares of the Wireless communications provider's stock valued at $62,762,000 after acquiring an additional 590,000 shares in the last quarter. Institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Stock Performance

Shares of TDS traded up $0.01 during trading hours on Friday, hitting $39.48. The stock had a trading volume of 976,273 shares, compared to its average volume of 1,334,698. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.78 and a quick ratio of 1.65. Telephone and Data Systems, Inc. has a 12 month low of $21.81 and a 12 month high of $42.74. The firm has a market capitalization of $4.54 billion, a PE ratio of -40.70 and a beta of 0.48. The stock has a fifty day moving average price of $38.49 and a 200 day moving average price of $36.47.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04). Telephone and Data Systems had a positive return on equity of 0.92% and a negative net margin of 0.85%.The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business posted ($0.13) earnings per share. Telephone and Data Systems's revenue for the quarter was down 5.7% compared to the same quarter last year. Analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Telephone and Data Systems's payout ratio is presently -16.49%.

Insider Buying and Selling

In other news, SVP Joseph R. Hanley sold 68,759 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.16, for a total value of $2,623,843.44. Following the transaction, the senior vice president directly owned 60,473 shares in the company, valued at $2,307,649.68. The trade was a 53.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vicki L. Villacrez sold 73,878 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $38.88, for a total value of $2,872,376.64. Following the completion of the transaction, the chief financial officer directly owned 81,035 shares in the company, valued at approximately $3,150,640.80. This represents a 47.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,650 shares of company stock valued at $10,690,789 in the last 90 days. Corporate insiders own 14.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TDS. JPMorgan Chase & Co. raised their price target on Telephone and Data Systems from $53.00 to $54.00 and gave the company an "overweight" rating in a report on Tuesday, August 12th. Raymond James Financial raised their price target on Telephone and Data Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Wall Street Zen raised Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Finally, Zacks Research raised Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Telephone and Data Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.00.

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.