Hawk Ridge Capital Management LP Takes $19.14 Million Position in Telephone and Data Systems, Inc. $TDS

Key Points

• Hawk Ridge Capital Management LP has invested approximately $19.14 million in Telephone and Data Systems, acquiring 494,085 shares, which represents about 0.43% of the company's total shares.
• Telephone and Data Systems reported a loss of $0.05 per share for the last quarter, missing analysts' expectations, but had revenue of $1.19 billion, slightly above the estimated $1.17 billion.
• The company has announced a quarterly dividend of $0.04 per share, with a dividend yield of 0.4%, to be paid on September 30th to shareholders of record as of September 15th.

Hawk Ridge Capital Management LP acquired a new position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 494,085 shares of the Wireless communications provider's stock, valued at approximately $19,141,000. Hawk Ridge Capital Management LP owned 0.43% of Telephone and Data Systems as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Xponance Inc. grew its stake in Telephone and Data Systems by 4.5% during the first quarter. Xponance Inc. now owns 7,485 shares of the Wireless communications provider's stock worth $290,000 after buying an additional 324 shares during the period. Sequoia Financial Advisors LLC grew its stake in Telephone and Data Systems by 8.0% during the first quarter. Sequoia Financial Advisors LLC now owns 6,544 shares of the Wireless communications provider's stock worth $254,000 after buying an additional 485 shares during the period. GAMMA Investing LLC grew its stake in Telephone and Data Systems by 8.7% during the first quarter. GAMMA Investing LLC now owns 6,243 shares of the Wireless communications provider's stock worth $242,000 after buying an additional 501 shares during the period. OneDigital Investment Advisors LLC grew its stake in Telephone and Data Systems by 5.8% during the first quarter. OneDigital Investment Advisors LLC now owns 9,648 shares of the Wireless communications provider's stock worth $374,000 after buying an additional 531 shares during the period. Finally, Landscape Capital Management L.L.C. grew its stake in Telephone and Data Systems by 5.5% during the first quarter. Landscape Capital Management L.L.C. now owns 11,596 shares of the Wireless communications provider's stock worth $449,000 after buying an additional 606 shares during the period. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Telephone and Data Systems Stock Up 1.4%

NYSE TDS traded up $0.52 during trading hours on Tuesday, reaching $38.90. 390,256 shares of the company traded hands, compared to its average volume of 1,072,236. Telephone and Data Systems, Inc. has a 12 month low of $21.81 and a 12 month high of $42.74. The company has a current ratio of 1.78, a quick ratio of 1.65 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $4.47 billion, a PE ratio of -40.11 and a beta of 0.48. The company has a 50 day moving average of $38.55 and a two-hundred day moving average of $36.45.

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). 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 the consensus estimate of $1.17 billion. During the same quarter in the previous year, the business posted ($0.13) earnings per share. The company's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, equities analysts expect that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

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

Insider Activity

In other Telephone and Data Systems news, CAO Anita J. Kroll sold 8,608 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $39.09, for a total transaction of $336,486.72. Following the transaction, the chief accounting officer owned 17,087 shares of the company's stock, valued at approximately $667,930.83. This trade represents a 33.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joseph R. Hanley sold 68,759 shares of the business'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 in the company, valued at $2,307,649.68. This represents a 53.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 276,650 shares of company stock valued at $10,690,789. 14.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Zacks Research upgraded shares of 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 target price on shares of 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. JPMorgan Chase & Co. upped their target price on shares of 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. Finally, Wall Street Zen upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note 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, Telephone and Data Systems currently has a consensus rating of "Moderate Buy" and an average price target 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.