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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp lifted its position in Telephone and Data Systems by 9.1% in the fourth quarter. Northern Trust Corp now owns 1,159,919 shares of the Wireless communications provider's stock worth $39,565,000 after purchasing an additional 96,849 shares during the period. Ameriprise Financial Inc. boosted its stake in Telephone and Data Systems by 3.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,257,662 shares of the Wireless communications provider's stock valued at $42,899,000 after buying an additional 45,619 shares in the last quarter. Captrust Financial Advisors bought a new stake in Telephone and Data Systems in the fourth quarter worth about $208,000. Crestline Management LP acquired a new stake in Telephone and Data Systems in the 4th quarter valued at about $210,000. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Telephone and Data Systems by 140.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 334,981 shares of the Wireless communications provider's stock valued at $11,426,000 after purchasing an additional 195,935 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors.

Telephone and Data Systems Price Performance

Shares of Telephone and Data Systems stock traded up $0.15 during midday trading on Wednesday, reaching $38.71. The company had a trading volume of 598,326 shares, compared to its average volume of 1,071,871. 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 fifty day simple moving average of $38.66 and a 200 day simple moving average of $36.48. Telephone and Data Systems, Inc. has a 1-year low of $21.81 and a 1-year high of $42.74. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of -39.90 and a beta of 0.48.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) 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 analyst estimates of $1.17 billion. Telephone and Data Systems had a positive return on equity of 0.92% and a negative net margin of 0.85%.Telephone and Data Systems's revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.13) EPS. As a group, equities research analysts forecast that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

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

Insider Activity at Telephone and Data Systems

In other Telephone and Data Systems news, CFO Vicki L. Villacrez sold 73,878 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $38.88, for a total value of $2,872,376.64. Following the transaction, the chief financial officer directly owned 81,035 shares of the company's stock, valued at $3,150,640.80. This represents a 47.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Anita J. Kroll sold 29,047 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $39.02, for a total transaction of $1,133,413.94. Following the completion of the sale, the chief accounting officer directly owned 19,892 shares of the company's stock, valued at $776,185.84. This represents a 59.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,650 shares of company stock valued at $10,690,789 in the last ninety days. Company insiders own 14.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Zacks Research upgraded Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. upped 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 research note 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, Raymond James Financial upped their price target on shares of Telephone and Data Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.