GABELLI & Co INVESTMENT ADVISERS INC. Raises Holdings in Telephone and Data Systems, Inc. $TDS

Key Points

• GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Telephone and Data Systems by 58.8%, acquiring a total of 192,178 shares, which now represent 1.1% of their holdings.
• Telephone and Data Systems reported a loss of $0.05 per share in its recent earnings, missing analyst estimates, while revenue for the quarter was $1.19 billion, slightly exceeding expectations.
• The company declared a quarterly dividend of $0.04 per share, with a yield of 0.4%, scheduled for payment on September 30th.

GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 58.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 192,178 shares of the Wireless communications provider's stock after purchasing an additional 71,128 shares during the period. Telephone and Data Systems makes up about 1.1% of GABELLI & Co INVESTMENT ADVISERS INC.'s investment portfolio, making the stock its 26th largest position. GABELLI & Co INVESTMENT ADVISERS INC. owned about 0.17% of Telephone and Data Systems worth $7,445,000 at the end of the most recent quarter.

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

Telephone and Data Systems Trading Down 0.4%

Shares of NYSE TDS traded down $0.17 during midday trading on Friday, hitting $40.10. The company's stock had a trading volume of 1,382,234 shares, compared to its average volume of 1,417,950. 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 firm has a market cap of $4.61 billion, a P/E ratio of -41.34 and a beta of 0.54. The business's 50 day moving average is $37.99 and its two-hundred day moving average is $36.46.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.17 billion. Telephone and Data Systems had a negative net margin of 0.85% and a positive return on equity of 0.92%. Telephone and Data Systems's revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) EPS. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.04 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. Telephone and Data Systems's dividend payout ratio is presently -16.49%.

Analyst Ratings Changes

TDS has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on Telephone and Data Systems from $53.00 to $54.00 and gave the company an "overweight" rating in a research report on Tuesday, August 12th. Wall Street Zen raised Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. 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 report 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 note on Wednesday, August 13th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.00.

Insider Activity at Telephone and Data Systems

In other Telephone and Data Systems news, CAO Anita J. Kroll sold 29,047 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $39.02, for a total value of $1,133,413.94. Following the transaction, the chief accounting officer directly owned 19,892 shares in the company, valued at $776,185.84. This represents a 59.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vicki L. Villacrez sold 73,878 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $38.88, for a total transaction of $2,872,376.64. Following the transaction, the chief financial officer directly owned 81,035 shares in the company, valued at approximately $3,150,640.80. This trade represents a 47.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,650 shares of company stock worth $10,690,789. 14.97% of the stock is currently owned by corporate insiders.

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.