CastleKnight Management LP Buys Shares of 277,300 Telephone and Data Systems, Inc. (NYSE:TDS)

CastleKnight Management LP purchased a new position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 277,300 shares of the Wireless communications provider’s stock, valued at approximately $9,459,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Independence Bank of Kentucky bought a new stake in shares of Telephone and Data Systems in the 4th quarter valued at about $41,000. Federated Hermes Inc. bought a new stake in shares of Telephone and Data Systems during the 4th quarter valued at about $56,000. SBI Securities Co. Ltd. purchased a new position in shares of Telephone and Data Systems in the 4th quarter valued at approximately $74,000. Farther Finance Advisors LLC boosted its position in Telephone and Data Systems by 74.5% in the fourth quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider’s stock worth $92,000 after purchasing an additional 1,156 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Telephone and Data Systems by 139.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,749 shares of the Wireless communications provider’s stock worth $128,000 after buying an additional 2,186 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TDS shares. Raymond James reissued an “outperform” rating and set a $47.00 price target (down from $51.00) on shares of Telephone and Data Systems in a report on Monday. JPMorgan Chase & Co. upped their price objective on Telephone and Data Systems from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, February 24th.

Telephone and Data Systems Price Performance

Shares of TDS stock opened at $31.74 on Tuesday. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of -5.88 and a beta of 0.62. The stock has a 50-day moving average price of $36.10 and a 200 day moving average price of $34.71. Telephone and Data Systems, Inc. has a 12 month low of $14.52 and a 12 month high of $41.21. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85.

Telephone and Data Systems (NYSE:TDS) last released its 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). Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The firm’s revenue was down 8.6% compared to the same quarter last year. Research analysts expect that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Monday, March 17th. Telephone and Data Systems’s dividend payout ratio (DPR) is -18.60%.

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.