Telephone and Data Systems, Inc. $TDS Shares Sold 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 decreased its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 22.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 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.

Other hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in Telephone and Data Systems by 21.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,500 shares of the Wireless communications provider's stock valued at $329,000 after buying an additional 1,500 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Telephone and Data Systems by 8.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,544 shares of the Wireless communications provider's stock worth $254,000 after purchasing an additional 485 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Telephone and Data Systems in the 1st quarter worth approximately $215,000. Wealth Enhancement Advisory Services LLC acquired a new position in Telephone and Data Systems in the 4th quarter worth approximately $237,000. Finally, GAMMA Investing LLC boosted its stake in Telephone and Data Systems by 8.7% in the 1st quarter. GAMMA Investing LLC now owns 6,243 shares of the Wireless communications provider's stock worth $242,000 after purchasing an additional 501 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Stock Down 1.3%

Shares of NYSE TDS traded down $0.52 during mid-day trading on Monday, reaching $38.99. The company had a trading volume of 549,023 shares, compared to its average volume of 1,071,027. The stock has a fifty day moving average of $38.49 and a two-hundred day moving average of $36.45. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.65 and a current ratio of 1.78. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of -40.25 and a beta of 0.48. Telephone and Data Systems, Inc. has a 12-month low of $21.81 and a 12-month high of $42.74.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted 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 company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.17 billion. Telephone and Data Systems had a positive return on equity of 0.92% and a negative net margin of 0.85%.Telephone and Data Systems's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the company earned ($0.13) earnings per share. As a group, equities research analysts expect that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend 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 at Telephone and Data Systems

In other news, CFO Vicki L. Villacrez sold 26,334 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $39.02, for a total value of $1,027,552.68. Following the completion of the sale, the chief financial officer directly owned 454 shares in the company, valued at approximately $17,715.08. The trade was a 98.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Anita J. Kroll sold 8,608 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $39.09, for a total transaction of $336,486.72. Following the completion of the sale, the chief accounting officer owned 17,087 shares of the company's stock, valued at $667,930.83. The trade was a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,650 shares of company stock worth $10,690,789 in the last 90 days. 14.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on TDS shares. Wall Street Zen raised shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. JPMorgan Chase & Co. raised their price objective on shares of Telephone and Data Systems from $53.00 to $54.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. Raymond James Financial raised their price objective on shares of 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, Zacks Research raised shares of Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.00.

Telephone and Data Systems 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.