Boothbay Fund Management LLC Makes New $10.79 Million Investment in Telephone and Data Systems, Inc. $TDS

Boothbay Fund Management LLC acquired a new position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 263,216 shares of the Wireless communications provider’s stock, valued at approximately $10,792,000.

Several other institutional investors have also recently bought and sold shares of the business. Captrust Financial Advisors raised its holdings in Telephone and Data Systems by 3.8% during the fourth quarter. Captrust Financial Advisors now owns 6,026 shares of the Wireless communications provider’s stock worth $247,000 after buying an additional 220 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in Telephone and Data Systems by 51.3% during the fourth quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider’s stock worth $28,000 after buying an additional 231 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Telephone and Data Systems by 2.4% during the fourth quarter. CIBC Asset Management Inc now owns 9,804 shares of the Wireless communications provider’s stock worth $402,000 after buying an additional 232 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in Telephone and Data Systems by 1.6% during the fourth quarter. Maryland State Retirement & Pension System now owns 14,362 shares of the Wireless communications provider’s stock worth $589,000 after buying an additional 233 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in Telephone and Data Systems by 4.3% during the fourth quarter. HighTower Advisors LLC now owns 5,866 shares of the Wireless communications provider’s stock worth $241,000 after buying an additional 240 shares during the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.

Telephone and Data Systems Stock Performance

NYSE TDS opened at $39.45 on Thursday. Telephone and Data Systems, Inc. has a 1 year low of $32.60 and a 1 year high of $49.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.43 and a quick ratio of 3.42. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 74.43 and a beta of 0.28. The company has a fifty day moving average price of $42.45 and a 200-day moving average price of $42.68.

Telephone and Data Systems (NYSE:TDS) last posted its earnings results on Friday, May 8th. The Wireless communications provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $1.98. Telephone and Data Systems had a net margin of 6.15% and a return on equity of 5.54%. The firm had revenue of $309.45 million during the quarter, compared to analyst estimates of $313.28 million. During the same quarter in the prior year, the business posted ($0.09) EPS. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts predict that Telephone and Data Systems, Inc. will post 0.94 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a $0.04 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. Telephone and Data Systems’s dividend payout ratio is presently 30.19%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TDS shares. Wall Street Zen upgraded shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Weiss Ratings restated a “hold (c)” rating on shares of Telephone and Data Systems in a report on Friday, June 5th. Raymond James Financial downgraded shares of Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a report on Monday, May 11th. Finally, Citigroup upped their price objective on shares of Telephone and Data Systems from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $53.33.

About Telephone and Data Systems

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.