Hudson Bay Capital Management LP Raises Holdings in Telephone and Data Systems, Inc. $TDS

Hudson Bay Capital Management LP grew its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 50.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 owned about 0.65% of Telephone and Data Systems worth $29,430,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TDS. Axecap Investments LLC bought a new stake in Telephone and Data Systems in the 3rd quarter worth about $2,441,000. Allianz Asset Management GmbH lifted its stake in Telephone and Data Systems by 21.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 456,451 shares of the Wireless communications provider’s stock valued at $17,911,000 after acquiring an additional 80,670 shares during the period. American Century Companies Inc. boosted its holdings in shares of Telephone and Data Systems by 4.0% during the 2nd quarter. American Century Companies Inc. now owns 3,607,857 shares of the Wireless communications provider’s stock valued at $128,368,000 after acquiring an additional 137,494 shares during the last quarter. Carronade Capital Management LP boosted its holdings in shares of Telephone and Data Systems by 8.5% during the 3rd quarter. Carronade Capital Management LP now owns 3,680,500 shares of the Wireless communications provider’s stock valued at $144,423,000 after acquiring an additional 288,000 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Telephone and Data Systems in the second quarter worth approximately $496,000. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Price Performance

NYSE TDS opened at $41.67 on Thursday. The company has a 50-day moving average price of $44.59 and a 200-day moving average price of $40.96. Telephone and Data Systems, Inc. has a 52 week low of $31.07 and a 52 week high of $47.79. The company has a quick ratio of 2.09, a current ratio of 2.10 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $4.79 billion, a P/E ratio of -64.11 and a beta of 0.34.

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

Telephone and Data Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders 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 dividend yield of 0.4%. The ex-dividend date is Monday, March 16th. Telephone and Data Systems’s dividend payout ratio (DPR) is currently -24.62%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TDS. 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. Citigroup boosted their target price on shares of Telephone and Data Systems from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Wall Street Zen cut Telephone and Data Systems from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Finally, Weiss Ratings upgraded Telephone and Data Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.33.

Telephone and Data Systems 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.