Connor Clark & Lunn Investment Management Ltd. Grows Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 66.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 284,906 shares of the Wireless communications provider's stock after buying an additional 113,862 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.25% of Telephone and Data Systems worth $6,624,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TDS. Blue Trust Inc. lifted its holdings in shares of Telephone and Data Systems by 4,082.9% during the 2nd quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider's stock valued at $36,000 after buying an additional 1,674 shares during the period. Quarry LP purchased a new position in Telephone and Data Systems in the second quarter worth about $40,000. CWM LLC grew its stake in shares of Telephone and Data Systems by 57.0% during the 2nd quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider's stock valued at $82,000 after purchasing an additional 1,430 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Telephone and Data Systems during the 2nd quarter valued at about $88,000. Finally, Natixis purchased a new stake in shares of Telephone and Data Systems during the 1st quarter valued at about $96,000. Hedge funds and other institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Stock Performance

TDS traded up $1.04 during midday trading on Friday, reaching $34.04. The company had a trading volume of 1,239,726 shares, compared to its average volume of 1,200,481. The business has a 50-day moving average of $27.03 and a two-hundred day moving average of $22.94. 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, Inc. has a 1 year low of $13.69 and a 1 year high of $34.57. The company has a market cap of $3.85 billion, a P/E ratio of -6.32 and a beta of 0.77.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.19. 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 $1.22 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the firm posted ($0.16) EPS. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts predict that Telephone and Data Systems, Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TDS has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Raymond James upgraded shares of Telephone and Data Systems from a "market perform" rating to an "outperform" rating and set a $51.00 price target on the stock in a research note on Thursday, November 7th.

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.