Hudson Bay Capital Management LP Grows Position in Telephone and Data Systems, Inc. $TDS

Hudson Bay Capital Management LP raised its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 50.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 750,000 shares of the Wireless communications provider’s stock after purchasing an additional 250,000 shares during the period. Hudson Bay Capital Management LP’s holdings in Telephone and Data Systems were worth $29,430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TDS. Cambria Investment Management L.P. lifted its position in shares of Telephone and Data Systems by 24.9% during the 3rd quarter. Cambria Investment Management L.P. now owns 14,652 shares of the Wireless communications provider’s stock valued at $575,000 after buying an additional 2,925 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Telephone and Data Systems in the 3rd quarter worth approximately $417,000. CANADA LIFE ASSURANCE Co increased its holdings in Telephone and Data Systems by 3.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 86,558 shares of the Wireless communications provider’s stock worth $3,345,000 after acquiring an additional 2,538 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in Telephone and Data Systems during the 3rd quarter worth approximately $1,304,000. Finally, United Capital Financial Advisors LLC purchased a new position in Telephone and Data Systems during the third quarter valued at approximately $212,000. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TDS. Citigroup upped their price target on shares of Telephone and Data Systems from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Zacks Research downgraded shares of Telephone and Data Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Wall Street Zen cut shares of Telephone and Data Systems from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Finally, Weiss Ratings raised shares of Telephone and Data Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.33.

Telephone and Data Systems Stock Down 2.6%

NYSE TDS opened at $41.67 on Thursday. The stock’s 50 day moving average is $44.59 and its 200 day moving average is $40.96. The company has a current ratio of 2.10, a quick ratio of 2.09 and a debt-to-equity ratio of 0.20. Telephone and Data Systems, Inc. has a 12 month low of $31.07 and a 12 month high of $47.79. The stock has a market cap of $4.79 billion, a PE ratio of -64.11 and a beta of 0.34.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings results on Friday, February 20th. The Wireless communications provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.23. Telephone and Data Systems had a positive return on equity of 2.25% and a negative net margin of 0.21%.The business had revenue of $330.71 million during the quarter, compared to the consensus estimate of $319.28 million. During the same period in the prior year, the company posted ($0.10) EPS. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, March 16th. Telephone and Data Systems’s dividend payout ratio (DPR) is presently -24.62%.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.