300,000 Shares in Telephone and Data Systems, Inc. (NYSE:TDS) Acquired by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP acquired a new position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 300,000 shares of the Wireless communications provider’s stock, valued at approximately $10,233,000. Hudson Bay Capital Management LP owned approximately 0.27% of Telephone and Data Systems as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. purchased a new stake in Telephone and Data Systems in the fourth quarter valued at $246,000. Norges Bank acquired a new stake in shares of Telephone and Data Systems in the fourth quarter valued at $23,776,000. Consolidated Planning Corp grew its stake in shares of Telephone and Data Systems by 35.4% in the fourth quarter. Consolidated Planning Corp now owns 38,516 shares of the Wireless communications provider’s stock valued at $1,314,000 after buying an additional 10,063 shares in the last quarter. Savant Capital LLC acquired a new stake in shares of Telephone and Data Systems in the fourth quarter valued at $203,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Telephone and Data Systems in the fourth quarter valued at $2,422,000. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Trading Up 1.8%

NYSE:TDS opened at $34.57 on Monday. The stock has a 50-day simple moving average of $36.01 and a 200-day simple moving average of $34.88. The stock has a market cap of $3.94 billion, a P/E ratio of -6.40 and a beta of 0.57. Telephone and Data Systems, Inc. has a 1 year low of $16.64 and a 1 year high of $41.21. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings data 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). Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the company posted $0.10 earnings per share. The company’s revenue was down 8.6% compared to the same quarter last year. As a group, analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, March 17th. Telephone and Data Systems’s payout ratio is currently -15.24%.

Wall Street Analysts Forecast Growth

TDS has been the subject of a number of research reports. 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 reaffirmed an “outperform” rating and issued a $47.00 price objective (down from $51.00) on shares of Telephone and Data Systems in a research note on Monday, May 5th.

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.