140 Summer Partners LP Makes New Investment in 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 bought a new position in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 547,649 shares of the Wireless communications provider's stock, valued at approximately $21,216,000. Telephone and Data Systems makes up about 2.7% of 140 Summer Partners LP's portfolio, making the stock its 13th largest holding. 140 Summer Partners LP owned 0.48% of Telephone and Data Systems at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TDS. Northern Trust Corp boosted its holdings in shares of Telephone and Data Systems by 9.1% during the 4th quarter. Northern Trust Corp now owns 1,159,919 shares of the Wireless communications provider's stock worth $39,565,000 after purchasing an additional 96,849 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Telephone and Data Systems by 3.8% during the 4th quarter. Ameriprise Financial Inc. now owns 1,257,662 shares of the Wireless communications provider's stock worth $42,899,000 after purchasing an additional 45,619 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Telephone and Data Systems in the 4th quarter valued at about $208,000. CastleKnight Management LP purchased a new position in Telephone and Data Systems in the fourth quarter valued at about $9,459,000. Finally, Crestline Management LP bought a new stake in shares of Telephone and Data Systems in the fourth quarter worth $210,000. 80.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Joseph R. Hanley sold 68,759 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $38.16, for a total transaction of $2,623,843.44. Following the sale, the senior vice president owned 60,473 shares of the company's stock, valued at $2,307,649.68. The trade was a 53.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Prudence E. Carlson sold 4,452 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $38.50, for a total transaction of $171,402.00. Following the transaction, the director directly owned 311,005 shares in the company, valued at approximately $11,973,692.50. This represents a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,650 shares of company stock worth $10,690,789. Corporate insiders own 14.48% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on TDS. Wall Street Zen upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Zacks Research raised Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Raymond James Financial upped their price objective on Telephone and Data Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. boosted their price target on Telephone and Data Systems from $53.00 to $54.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Telephone and Data Systems presently has an average rating of "Moderate Buy" and an average price target of $52.00.

Telephone and Data Systems Trading Down 1.1%

Shares of TDS traded down $0.44 during trading hours on Monday, reaching $39.07. 456,168 shares of the company traded hands, compared to its average volume of 1,070,716. Telephone and Data Systems, Inc. has a 12 month low of $21.81 and a 12 month high of $42.74. The company's fifty day moving average price is $38.49 and its two-hundred day moving average price is $36.45. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of -40.29 and a beta of 0.48. The company has a quick ratio of 1.65, a current ratio of 1.78 and a debt-to-equity ratio of 0.85.

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

Telephone and Data Systems Dividend Announcement

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

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.