FORA Capital LLC Makes New $307,000 Investment in Telephone and Data Systems, Inc. $TDS

Key Points

• FORA Capital LLC has acquired a new position in Telephone and Data Systems, purchasing 7,926 shares valued at approximately $307,000 during the first quarter.
• Several institutional investors have increased their stakes in Telephone and Data Systems, with ownership among institutional investors currently at 80%.
• The company's recent earnings reported a loss of ($0.05) per share, missing analyst estimates, but revenue was at $1.19 billion, exceeding expectations.

FORA Capital LLC purchased a new position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,926 shares of the Wireless communications provider's stock, valued at approximately $307,000.

A number of other institutional investors also recently modified their holdings of the business. Bayforest Capital Ltd increased its holdings in Telephone and Data Systems by 121.8% in the 1st quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider's stock worth $52,000 after purchasing an additional 737 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Telephone and Data Systems by 85.6% in the 4th quarter. Lazard Asset Management LLC now owns 4,092 shares of the Wireless communications provider's stock worth $139,000 after purchasing an additional 1,887 shares in the last quarter. Forum Financial Management LP acquired a new position in Telephone and Data Systems in the 1st quarter worth about $200,000. Greenleaf Trust acquired a new position in Telephone and Data Systems in the 1st quarter worth about $202,000. Finally, Highland Capital Management LLC acquired a new stake in shares of Telephone and Data Systems in the first quarter valued at about $205,000. Institutional investors and hedge funds own 80.00% of the company's stock.

Telephone and Data Systems Stock Up 0.9%

NYSE:TDS traded up $0.37 on Wednesday, hitting $39.84. The stock had a trading volume of 111,570 shares, compared to its average volume of 1,066,858. The company has a market cap of $4.58 billion, a PE ratio of -41.07 and a beta of 0.48. Telephone and Data Systems, Inc. has a 52 week low of $21.81 and a 52 week high of $42.74. The business's fifty day moving average is $38.19 and its 200 day moving average is $36.47. 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 issued 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). 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%.The business'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. On average, equities research analysts expect that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

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

Insider Transactions at Telephone and Data Systems

In other Telephone and Data Systems news, CFO Vicki L. Villacrez sold 26,334 shares of the firm's stock in a transaction on Monday, August 18th. The stock was 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 of the company's stock, valued at $17,715.08. This trade represents a 98.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Joseph R. Hanley sold 68,759 shares of the firm's stock in a transaction on 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 completion of the sale, the senior vice president directly owned 60,473 shares of the company's stock, valued at $2,307,649.68. This represents a 53.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,650 shares of company stock valued at $10,690,789. Corporate insiders own 14.48% of the company's stock.

Analysts Set New Price Targets

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