Gamco Investors INC. ET AL Has $72.65 Million Stock Position in Telephone and Data Systems, Inc. $TDS

Key Points

• Gamco Investors INC. ET AL has decreased its stake in Telephone and Data Systems, Inc. by 2.1%, selling 39,920 shares, and now holds approximately 1.64% of the company valued at $72.6 million.
• Insider selling activity included Joseph R. Hanley, SVP, who sold 68,759 shares, representing a 53.21% decrease in his position, while Director Prudence E. Carlson also sold 4,452 shares.
• Telephone and Data Systems posted a net loss of $0.05 EPS for the latest quarter, and its revenues decreased by 5.7% year-over-year, although it beat analysts' revenue expectations.

Gamco Investors INC. ET AL trimmed its holdings in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 2.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,875,224 shares of the Wireless communications provider's stock after selling 39,920 shares during the quarter. Telephone and Data Systems comprises 0.8% of Gamco Investors INC. ET AL's portfolio, making the stock its 21st biggest holding. Gamco Investors INC. ET AL owned about 1.64% of Telephone and Data Systems worth $72,646,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bayforest Capital Ltd raised its holdings in shares of Telephone and Data Systems by 121.8% in the first quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider's stock valued at $52,000 after buying an additional 737 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Telephone and Data Systems by 85.6% in the fourth 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 during the last quarter. Forum Financial Management LP bought a new position in shares of Telephone and Data Systems in the first quarter valued at about $200,000. Greenleaf Trust bought a new position in shares of Telephone and Data Systems in the first quarter valued at about $202,000. Finally, Highland Capital Management LLC bought a new position in shares of Telephone and Data Systems in the first quarter valued at about $205,000. 80.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Anita J. Kroll sold 29,047 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $39.02, for a total value of $1,133,413.94. Following the completion of the transaction, the chief accounting officer directly owned 19,892 shares in the company, valued at approximately $776,185.84. The trade was a 59.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joseph R. Hanley sold 68,759 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president directly owned 60,473 shares of the company's stock, valued at approximately $2,307,649.68. This trade represents a 53.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,650 shares of company stock valued at $10,690,789 over the last 90 days. 14.97% of the stock is owned by company insiders.

Telephone and Data Systems Stock Down 0.4%

Shares of TDS traded down $0.17 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. The company has a quick ratio of 1.65, a current ratio of 1.78 and a debt-to-equity ratio of 0.85. The firm's fifty day moving average price is $37.99 and its 200-day moving average price is $36.46. Telephone and Data Systems, Inc. has a fifty-two week low of $21.81 and a fifty-two week high of $42.74. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of -41.34 and a beta of 0.54.

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) earnings per share (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 business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. Telephone and Data Systems's revenue for the quarter was down 5.7% compared to the same quarter last year. On average, 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 firm 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 dividend yield of 0.4%. Telephone and Data Systems's payout ratio is currently -16.49%.

Analyst Ratings Changes

Several analysts have weighed in on TDS shares. Raymond James Financial boosted their price objective on Telephone and Data Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Zacks Research raised Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. Wall Street Zen raised Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Finally, JPMorgan Chase & Co. boosted their price objective on Telephone and Data Systems from $53.00 to $54.00 and gave the stock an "overweight" rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently 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.