Assenagon Asset Management S.A. Sells 156,031 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Assenagon Asset Management S.A. lowered its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 72.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,537 shares of the Wireless communications provider's stock after selling 156,031 shares during the period. Assenagon Asset Management S.A. owned approximately 0.05% of Telephone and Data Systems worth $938,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Diversified Trust Co boosted its position in shares of Telephone and Data Systems by 4.5% in the 1st quarter. Diversified Trust Co now owns 29,359 shares of the Wireless communications provider's stock worth $470,000 after purchasing an additional 1,277 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Telephone and Data Systems by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 12,248,615 shares of the Wireless communications provider's stock worth $224,762,000 after acquiring an additional 565,371 shares in the last quarter. Quarry LP purchased a new stake in shares of Telephone and Data Systems in the fourth quarter worth $60,000. ORBA Wealth Advisors L.L.C. bought a new position in shares of Telephone and Data Systems during the fourth quarter valued at $184,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of Telephone and Data Systems in the 4th quarter worth about $2,209,000. Hedge funds and other institutional investors own 80.00% of the company's stock.

Wall Street Analyst Weigh In

TDS has been the topic of several recent analyst reports. StockNews.com raised shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Monday, May 6th. JPMorgan Chase & Co. dropped their target price on Telephone and Data Systems from $38.00 to $36.00 and set an "overweight" rating on the stock in a research report on Monday, May 13th.

Telephone and Data Systems Stock Performance

Shares of TDS stock traded down $0.54 during mid-day trading on Tuesday, reaching $19.13. 978,596 shares of the company's stock traded hands, compared to its average volume of 1,066,407. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.40 and a current ratio of 1.58. The firm has a market capitalization of $2.16 billion, a PE ratio of -3.91 and a beta of 0.81. Telephone and Data Systems, Inc. has a 12 month low of $6.43 and a 12 month high of $21.75. The firm has a 50 day moving average price of $16.43 and a two-hundred day moving average price of $17.43.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its quarterly earnings results on Friday, May 3rd. The Wireless communications provider reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.15. Telephone and Data Systems had a positive return on equity of 0.62% and a negative net margin of 9.36%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Telephone and Data Systems's revenue for the quarter was down 3.1% on a year-over-year basis. On average, research analysts forecast that Telephone and Data Systems, Inc. will post -0.48 EPS for the current year.

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.

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