Insider Selling: Telephone and Data Systems (NYSE:TDS) CAO Sells 29,047 Shares of Stock

Key Points

• Anita J. Kroll, the Chief Accounting Officer of Telephone and Data Systems, sold 29,047 shares of the company's stock for approximately $1.13 million, which reflects a 59.35% decrease in her ownership position.
• In the recent quarterly earnings report, the company missed the consensus earnings estimate, reporting an EPS of ($0.05), while revenue was down 5.7% year-over-year at $1.19 billion.
• Telephone and Data Systems plans to distribute a quarterly dividend of $0.04 per share on September 30th, with a current annualized yield of 0.4%.

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) 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 value of $1,133,413.94. Following the completion of the transaction, the chief accounting officer directly owned 19,892 shares of the company's stock, valued at approximately $776,185.84. This trade represents a 59.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Telephone and Data Systems Stock Performance

Telephone and Data Systems stock traded down $0.0890 during midday trading on Tuesday, hitting $39.0110. 1,188,530 shares of the company were exchanged, compared to its average volume of 1,611,147. The business has a fifty day simple moving average of $37.06 and a two-hundred day simple moving average of $36.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.65 and a current ratio of 1.78. The firm has a market capitalization of $4.45 billion, a PE ratio of -40.22 and a beta of 0.54. Telephone and Data Systems, Inc. has a fifty-two week low of $20.45 and a fifty-two week high of $42.74.

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 analysts' consensus estimates 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 company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm posted ($0.13) earnings per share. The company's revenue was down 5.7% compared to the same quarter last year. On average, sell-side analysts forecast that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The company 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 of this dividend 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 is -16.49%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TDS shares. Raymond James Financial lifted their price objective on shares of Telephone and Data Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Zacks Research upgraded Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. upped their price target 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. Finally, Wall Street Zen upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Sunday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Third Point LLC lifted its stake 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 worth $204,660,000 after purchasing an additional 3,125,000 shares in the last quarter. Carronade Capital Management LP increased its holdings in shares of Telephone and Data Systems by 239.3% in the second quarter. Carronade Capital Management LP now owns 3,392,500 shares of the Wireless communications provider's stock valued at $120,705,000 after purchasing an additional 2,392,500 shares during the last quarter. Nuveen LLC purchased a new position in Telephone and Data Systems during the first quarter worth approximately $43,429,000. Engineers Gate Manager LP acquired a new position in Telephone and Data Systems during the second quarter worth $22,531,000. Finally, Silver Point Capital L.P. boosted its stake in 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 last quarter. 80.00% of the stock is owned by institutional investors and hedge funds.

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.