Diameter Capital Partners LP Boosts Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Diameter Capital Partners LP increased its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 77.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 450,000 shares of the Wireless communications provider's stock after buying an additional 196,801 shares during the period. Telephone and Data Systems accounts for about 2.3% of Diameter Capital Partners LP's portfolio, making the stock its 13th largest position. Diameter Capital Partners LP owned 0.40% of Telephone and Data Systems worth $15,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Telephone and Data Systems by 8.3% during the fourth quarter. GAMMA Investing LLC now owns 5,742 shares of the Wireless communications provider's stock worth $196,000 after purchasing an additional 440 shares in the last quarter. Summit Investment Advisors Inc. grew its position in shares of Telephone and Data Systems by 4.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,319 shares of the Wireless communications provider's stock valued at $352,000 after purchasing an additional 482 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Telephone and Data Systems by 1.6% during the 4th quarter. Voya Investment Management LLC now owns 52,577 shares of the Wireless communications provider's stock valued at $1,793,000 after acquiring an additional 808 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Telephone and Data Systems by 74.5% during the 4th quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider's stock worth $92,000 after buying an additional 1,156 shares during the last quarter. Finally, Independence Bank of Kentucky acquired a new position in shares of Telephone and Data Systems in the 4th quarter valued at $41,000. Institutional investors own 80.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Telephone and Data Systems from $53.00 to $56.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Raymond James reiterated an "outperform" rating and set a $47.00 price target (down from $51.00) on shares of Telephone and Data Systems in a research note on Monday, May 5th.

Telephone and Data Systems Stock Down 1.4%

NYSE TDS traded down $0.47 during trading hours on Monday, hitting $34.11. 308,204 shares of the company were exchanged, compared to its average volume of 1,054,069. The company has a 50 day moving average of $36.01 and a two-hundred day moving average of $34.88. 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 market cap of $3.89 billion, a price-to-earnings ratio of -6.33 and a beta of 0.57. Telephone and Data Systems, Inc. has a 52-week low of $16.64 and a 52-week high of $41.21.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates 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%. Telephone and Data Systems's revenue was down 8.6% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. Equities research analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.04 per share. The ex-dividend date was Monday, March 17th. This represents a $0.16 annualized dividend and a dividend yield of 0.47%. Telephone and Data Systems's payout ratio is currently -15.24%.

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.