Connor Clark & Lunn Investment Management Ltd. Sells 120,499 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 42.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,407 shares of the Wireless communications provider's stock after selling 120,499 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.15% of Telephone and Data Systems worth $5,608,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc grew its stake in Telephone and Data Systems by 14.5% during the 4th quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider's stock valued at $82,000 after acquiring an additional 303 shares in the last quarter. GAMMA Investing LLC grew 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 valued at $196,000 after purchasing an additional 440 shares in the last quarter. Quarry LP increased its stake in Telephone and Data Systems by 35.5% in the 3rd quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider's stock valued at $61,000 after buying an additional 692 shares during the period. Farther Finance Advisors LLC lifted its position in Telephone and Data Systems by 74.5% in 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 in the last quarter. Finally, Independence Bank of Kentucky acquired a new stake in shares of Telephone and Data Systems during the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 80.00% of the company's stock.

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Telephone and Data Systems Stock Up 1.6 %

NYSE TDS traded up $0.58 during trading on Thursday, reaching $36.05. The company's stock had a trading volume of 1,357,628 shares, compared to its average volume of 918,748. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $4.11 billion, a PE ratio of -6.68 and a beta of 0.75. Telephone and Data Systems, Inc. has a 1-year low of $14.04 and a 1-year high of $41.21. The business has a 50-day moving average price of $36.01 and a 200-day moving average price of $31.53.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.32) by $0.23. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. On average, research analysts forecast 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.04 per share. The ex-dividend date is Monday, March 17th. This represents a $0.16 annualized dividend and a dividend yield of 0.44%. Telephone and Data Systems's payout ratio is -18.60%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. increased their price objective on Telephone and Data Systems from $53.00 to $56.00 and gave the stock an "overweight" rating in a report on Monday, February 24th.

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.