Squarepoint Ops LLC Makes New $6.70 Million Investment in Telephone and Data Systems, Inc. $TDS

Squarepoint Ops LLC bought a new stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 188,256 shares of the Wireless communications provider’s stock, valued at approximately $6,698,000. Squarepoint Ops LLC owned 0.16% of Telephone and Data Systems as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Assetmark Inc. raised its stake in shares of Telephone and Data Systems by 53.1% during the 2nd quarter. Assetmark Inc. now owns 1,297 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 450 shares during the period. EverSource Wealth Advisors LLC raised its position in Telephone and Data Systems by 191.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the Wireless communications provider’s stock worth $47,000 after acquiring an additional 861 shares during the period. Bayforest Capital Ltd lifted its holdings in Telephone and Data Systems by 121.8% during the first quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider’s stock valued at $52,000 after purchasing an additional 737 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Telephone and Data Systems during the first quarter worth about $214,000. Finally, United Services Automobile Association acquired a new position in shares of Telephone and Data Systems during the 1st quarter worth about $248,000. 80.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TDS. Citigroup started coverage on shares of Telephone and Data Systems in a report on Wednesday, November 26th. They set a “buy” rating and a $45.00 target price for the company. Wall Street Zen downgraded shares of Telephone and Data Systems from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Zacks Research upgraded Telephone and Data Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Telephone and Data Systems in a research note on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Telephone and Data Systems has an average rating of “Moderate Buy” and an average price target of $49.67.

Insider Activity at Telephone and Data Systems

In other news, CAO Anita J. Kroll sold 16,217 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $39.02, for a total transaction of $632,787.34. Following the sale, the chief accounting officer owned 870 shares of the company’s stock, valued at approximately $33,947.40. This trade represents a 94.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.97% of the company’s stock.

Telephone and Data Systems Stock Down 0.1%

Shares of TDS opened at $38.41 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.89. The stock has a market capitalization of $4.42 billion, a PE ratio of -35.56 and a beta of 0.31. The company’s 50-day simple moving average is $38.78 and its 200-day simple moving average is $37.94. Telephone and Data Systems, Inc. has a 1 year low of $31.07 and a 1 year high of $42.74.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings data on Friday, November 7th. The Wireless communications provider reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.13. The business had revenue of $308.52 million for the quarter, compared to analyst estimates of $1.16 billion. Telephone and Data Systems had a positive return on equity of 1.15% and a negative net margin of 1.46%.The company’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.73) earnings per share. 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 15th. Telephone and Data Systems’s dividend payout ratio is currently -14.81%.

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.