Connor Clark & Lunn Investment Management Ltd. Trims Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 39.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,568 shares of the Wireless communications provider's stock after selling 64,839 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of Telephone and Data Systems worth $3,857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TDS. Third Point LLC boosted its holdings in Telephone and Data Systems by 108.7% in the 4th quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider's stock worth $204,660,000 after buying an additional 3,125,000 shares during the period. Carronade Capital Management LP purchased a new stake in shares of Telephone and Data Systems during the fourth quarter worth about $62,845,000. Silver Point Capital L.P. grew its position 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 worth $62,762,000 after purchasing an additional 590,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 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. Finally, Voloridge Investment Management LLC grew its position in shares of Telephone and Data Systems by 79.0% during the fourth quarter. Voloridge Investment Management LLC now owns 681,641 shares of the Wireless communications provider's stock worth $23,251,000 after purchasing an additional 300,846 shares in the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Telephone and Data Systems Price Performance

Shares of TDS traded down $0.31 during midday trading on Friday, hitting $38.51. 1,449,238 shares of the company traded hands, compared to its average volume of 1,619,328. The firm has a 50 day moving average of $36.92 and a 200-day moving average of $36.26. Telephone and Data Systems, Inc. has a 52 week low of $20.04 and a 52 week high of $42.74. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of -39.70 and a beta of 0.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.55 and a current ratio of 1.78.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The Wireless communications provider reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). Telephone and Data Systems had a negative net margin of 0.85% and a positive return on equity of 0.92%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company earned ($0.13) EPS. The firm's revenue for the quarter was down 5.7% on a year-over-year basis. On average, analysts forecast 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 will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.04 per share. 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 dividend payout ratio is -16.49%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TDS shares. JPMorgan Chase & Co. increased their target price on Telephone and Data Systems from $53.00 to $54.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. Raymond James Financial increased 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. Finally, Wall Street Zen upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Sunday.

Insider Buying and Selling at Telephone and Data Systems

In other news, Director Prudence E. Carlson sold 6,320 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $38.05, for a total transaction of $240,476.00. Following the sale, the director directly owned 315,457 shares in the company, valued at approximately $12,003,138.85. This represents a 1.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vicki L. Villacrez sold 73,878 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $38.88, for a total transaction of $2,872,376.64. Following the sale, the chief financial officer owned 81,035 shares in the company, valued at $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 168,497 shares of company stock valued at $6,531,504 in the last 90 days. Insiders own 14.97% of the company's stock.

Telephone and Data Systems Company 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.