Silver Point Capital L.P. Has $85.42 Million Stock Holdings in Telephone and Data Systems, Inc. $TDS

Key Points

• Silver Point Capital L.P. increased its holdings in Telephone and Data Systems by 19.8% in the first quarter, making it the fund's 5th largest position. The firm now owns 2,205,000 shares valued at approximately $85.4 million.
• Telephone and Data Systems reported a quarterly revenue of $1.19 billion, slightly above the consensus estimate, but missed earnings expectations with an EPS of ($0.05).
• Recent analyst ratings for Telephone and Data Systems show a consensus of "Moderate Buy", with price targets raised by firms including JPMorgan Chase and Raymond James.

Silver Point Capital L.P. lifted its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 19.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,205,000 shares of the Wireless communications provider's stock after purchasing an additional 365,000 shares during the period. Telephone and Data Systems makes up about 6.7% of Silver Point Capital L.P.'s investment portfolio, making the stock its 5th biggest position. Silver Point Capital L.P. owned approximately 1.93% of Telephone and Data Systems worth $85,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of TDS. Bayforest Capital Ltd lifted its position in shares of 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 worth $52,000 after purchasing an additional 737 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Telephone and Data Systems by 85.6% during the fourth 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 shares of Telephone and Data Systems during the first quarter worth approximately $200,000. Greenleaf Trust acquired a new position in shares of Telephone and Data Systems during the first quarter worth approximately $202,000. Finally, Highland Capital Management LLC acquired a new position in shares of Telephone and Data Systems during the first quarter worth approximately $205,000. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Telephone and Data Systems Trading Down 0.5%

Shares of TDS stock traded down $0.22 on Friday, hitting $39.17. The stock had a trading volume of 248,739 shares, compared to its average volume of 1,064,336. Telephone and Data Systems, Inc. has a twelve month low of $22.51 and a twelve month high of $42.74. The firm has a market cap of $4.50 billion, a P/E ratio of -40.38 and a beta of 0.48. 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 company has a fifty day moving average price of $38.74 and a two-hundred day moving average price of $36.50.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm earned ($0.13) EPS. Telephone and Data Systems's quarterly revenue was down 5.7% on a year-over-year basis. As a group, analysts forecast that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

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

Insider Activity at Telephone and Data Systems

In other news, SVP Joseph R. Hanley sold 68,759 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $38.16, for a total transaction of $2,623,843.44. Following the completion of the sale, the senior vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vicki L. Villacrez sold 26,334 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $39.02, for a total transaction of $1,027,552.68. Following the sale, the chief financial officer directly owned 454 shares of the company's stock, valued at $17,715.08. This represents a 98.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,650 shares of company stock worth $10,690,789 over the last three months. 14.97% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TDS shares. Zacks Research upgraded shares of Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research report 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 stock an "outperform" rating in a research report on Tuesday, August 12th. Wall Street Zen upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Telephone and Data Systems from $53.00 to $54.00 and gave the company an "overweight" rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.