Telephone and Data Systems, Inc. $TDS Stock Holdings Lowered by Bridgeway Capital Management LLC

Key Points

• Bridgeway Capital Management LLC has reduced its stake in Telephone and Data Systems, Inc. by 22.3%, selling 221,320 shares, and now holds approximately 0.8% of the company's stock.
• Insider selling has been significant, with the CFO and a director selling substantial amounts of shares recently, totaling 276,650 shares valued at around $10.7 million in the last ninety days.
• The company reported a loss of $0.05 per share in its latest quarterly earnings, missing analysts' estimates, despite revenue of $1.19 billion which exceeded expectations.

Bridgeway Capital Management LLC lessened its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 22.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 770,561 shares of the Wireless communications provider's stock after selling 221,320 shares during the period. Telephone and Data Systems makes up approximately 0.8% of Bridgeway Capital Management LLC's portfolio, making the stock its 7th biggest holding. Bridgeway Capital Management LLC owned 0.68% of Telephone and Data Systems worth $29,852,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TDS. Nuveen LLC purchased a new stake in Telephone and Data Systems during the first quarter worth $43,429,000. Carronade Capital Management LP boosted its position in 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 worth $105,780,000 after purchasing an additional 888,108 shares in the last quarter. Silver Point Capital L.P. boosted its position in 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 worth $62,762,000 after purchasing an additional 590,000 shares in the last quarter. 140 Summer Partners LP purchased a new stake in Telephone and Data Systems during the first quarter worth $21,216,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Telephone and Data Systems by 189.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 730,730 shares of the Wireless communications provider's stock worth $24,925,000 after purchasing an additional 477,945 shares in the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Telephone and Data Systems Trading Up 0.0%

NYSE:TDS traded up $0.01 during mid-day trading on Friday, reaching $39.48. The company's stock had a trading volume of 976,273 shares, compared to its average volume of 1,334,698. The company's fifty day simple moving average is $38.49 and its two-hundred day simple moving average is $36.47. 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 twelve month low of $21.81 and a twelve month high of $42.74. The stock has a market cap of $4.54 billion, a P/E ratio of -40.70 and a beta of 0.48.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued 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). Telephone and Data Systems had a positive return on equity of 0.92% and a negative net margin of 0.85%.The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business posted ($0.13) earnings per share. The firm's quarterly revenue was down 5.7% on a year-over-year basis. On average, equities analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

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

Insider Transactions at Telephone and Data Systems

In other news, Director Prudence E. Carlson sold 6,320 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $38.05, for a total value of $240,476.00. Following the transaction, the director directly owned 315,457 shares in the company, valued at $12,003,138.85. This trade represents a 1.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Anita J. Kroll sold 29,047 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $39.02, for a total value of $1,133,413.94. Following the completion of the transaction, the chief accounting officer owned 19,892 shares in the company, valued at approximately $776,185.84. This trade represents a 59.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,650 shares of company stock valued at $10,690,789. 14.97% of the stock is owned by company insiders.

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.