Stock Traders Purchase High Volume of Put Options on Telephone and Data Systems (NYSE:TDS)

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) was the recipient of some unusual options trading on Monday. Investors purchased 2,543 put options on the company. This represents an increase of approximately 196% compared to the typical daily volume of 860 put options.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TDS. Raymond James reissued an "outperform" rating and issued a $47.00 price target (down previously from $51.00) on shares of Telephone and Data Systems in a report on Monday. JPMorgan Chase & Co. boosted their price objective on Telephone and Data Systems from $53.00 to $56.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th.

Telephone and Data Systems Price Performance

TDS traded down $1.66 during trading on Monday, reaching $32.65. The company's stock had a trading volume of 345,876 shares, compared to its average volume of 961,936. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. The firm has a fifty day simple moving average of $36.18 and a two-hundred day simple moving average of $34.69. The company has a market cap of $3.72 billion, a price-to-earnings ratio of -6.06 and a beta of 0.62. Telephone and Data Systems has a 1 year low of $14.52 and a 1 year high of $41.21.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.18 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 earnings per share. As a group, analysts anticipate that Telephone and Data Systems will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 17th. Telephone and Data Systems's payout ratio is presently -18.60%.

Institutional Investors Weigh In On Telephone and Data Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Third Point LLC raised its holdings in Telephone and Data Systems by 108.7% in the 4th quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider's stock valued at $204,660,000 after buying an additional 3,125,000 shares during the period. American Century Companies Inc. lifted its holdings in shares of Telephone and Data Systems by 6.7% in the 4th quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider's stock worth $110,161,000 after acquiring an additional 203,897 shares during the last quarter. Gabelli Funds LLC increased its holdings in Telephone and Data Systems by 1.1% in the 4th quarter. Gabelli Funds LLC now owns 1,899,767 shares of the Wireless communications provider's stock valued at $64,801,000 after purchasing an additional 20,721 shares during the last quarter. Carronade Capital Management LP purchased a new stake in Telephone and Data Systems in the fourth quarter valued at approximately $62,845,000. Finally, Silver Point Capital L.P. boosted its position in shares of Telephone and Data Systems by 47.2% during the fourth quarter. Silver Point Capital L.P. now owns 1,840,000 shares of the Wireless communications provider's stock worth $62,762,000 after buying an additional 590,000 shares during the period. Institutional investors and hedge funds own 80.00% of the company's stock.

Telephone and Data Systems Company 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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