PDT Partners LLC Sells 61,370 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

PDT Partners LLC decreased its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 73.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,667 shares of the Wireless communications provider's stock after selling 61,370 shares during the quarter. PDT Partners LLC's holdings in Telephone and Data Systems were worth $504,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TDS. Blue Trust Inc. lifted its position in Telephone and Data Systems by 4,082.9% during the second quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider's stock valued at $36,000 after purchasing an additional 1,674 shares during the period. Quarry LP bought a new stake in Telephone and Data Systems during the second quarter valued at approximately $40,000. CWM LLC increased its holdings in Telephone and Data Systems by 57.0% during the second quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider's stock valued at $82,000 after buying an additional 1,430 shares during the last quarter. Neo Ivy Capital Management bought a new position in Telephone and Data Systems in the second quarter worth approximately $88,000. Finally, GAMMA Investing LLC boosted its stake in shares of Telephone and Data Systems by 13.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,812 shares of the Wireless communications provider's stock worth $100,000 after acquiring an additional 585 shares during the last quarter. Hedge funds and other institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Price Performance

TDS traded up $0.57 on Tuesday, hitting $34.38. 880,032 shares of the company's stock traded hands, compared to its average volume of 1,093,727. Telephone and Data Systems, Inc. has a one year low of $13.69 and a one year high of $34.76. 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 firm has a market cap of $3.88 billion, a price-to-earnings ratio of -6.37 and a beta of 0.81. The company's 50 day simple moving average is $28.54 and its 200-day simple moving average is $23.71.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the firm posted ($0.16) EPS. Telephone and Data Systems's revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, research analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 16th. Telephone and Data Systems's dividend payout ratio is presently -2.96%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TDS shares. JPMorgan Chase & Co. lifted their target price on Telephone and Data Systems from $39.00 to $40.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Raymond James raised shares of Telephone and Data Systems from a "market perform" rating to an "outperform" rating and set a $51.00 price objective for the company 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.