Private Management Group Inc. Lowers Stock Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Key Points

• Private Management Group Inc. has reduced its stake in Telephone and Data Systems, Inc. by 38.5%, now holding about 800,000 shares, which represents 1.1% of their investment portfolio.
• The company recently reported a quarterly loss of ($0.09) EPS, missing analyst expectations of ($0.02), alongside a revenue drop of 8.6% from the previous year.
• Telephone and Data Systems declared a quarterly dividend of $0.04 per share, equating to an annualized yield of 0.40%.

Private Management Group Inc. trimmed its position in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 38.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 799,839 shares of the Wireless communications provider's stock after selling 500,706 shares during the quarter. Telephone and Data Systems accounts for 1.1% of Private Management Group Inc.'s holdings, making the stock its 27th largest holding. Private Management Group Inc. owned about 0.70% of Telephone and Data Systems worth $30,986,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Xponance Inc. raised its position in shares of Telephone and Data Systems by 4.5% in the 1st quarter. Xponance Inc. now owns 7,485 shares of the Wireless communications provider's stock worth $290,000 after acquiring an additional 324 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Telephone and Data Systems by 4.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,319 shares of the Wireless communications provider's stock worth $352,000 after purchasing an additional 482 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Telephone and Data Systems by 8.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 6,544 shares of the Wireless communications provider's stock valued at $254,000 after buying an additional 485 shares in the last quarter. GAMMA Investing LLC increased its position in Telephone and Data Systems by 8.7% during the 1st quarter. GAMMA Investing LLC now owns 6,243 shares of the Wireless communications provider's stock valued at $242,000 after buying an additional 501 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its position in Telephone and Data Systems by 5.8% during the 1st quarter. OneDigital Investment Advisors LLC now owns 9,648 shares of the Wireless communications provider's stock valued at $374,000 after buying an additional 531 shares in the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 28th. Raymond James Financial reissued an "outperform" rating and issued a $49.00 price objective (up from $47.00) on shares of Telephone and Data Systems in a report on Friday. Finally, Wall Street Zen raised Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Saturday, July 12th.

Telephone and Data Systems Stock Performance

Shares of TDS traded up $0.15 during mid-day trading on Friday, reaching $40.05. The company had a trading volume of 3,423,663 shares, compared to its average volume of 1,349,458. Telephone and Data Systems, Inc. has a 52-week low of $17.90 and a 52-week high of $42.74. The company has a quick ratio of 1.55, a current ratio of 1.74 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $4.57 billion, a P/E ratio of -38.15 and a beta of 0.51. The stock has a 50 day moving average of $35.67 and a two-hundred day moving average of $35.92.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 1.03%. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the previous year, the company earned $0.10 EPS. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. On average, analysts expect that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.04 per share. The ex-dividend date was Monday, June 16th. This represents a $0.16 dividend on an annualized basis and a yield of 0.40%. Telephone and Data Systems's dividend payout ratio is currently -15.24%.

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.