Carronade Capital Management LP Purchases 420,340 Shares of Telephone and Data Systems, Inc. $TDS

Carronade Capital Management LP raised its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 10.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 4,623,934 shares of the Wireless communications provider’s stock after acquiring an additional 420,340 shares during the period. Telephone and Data Systems accounts for 2.5% of Carronade Capital Management LP’s investment portfolio, making the stock its 4th biggest position. Carronade Capital Management LP’s holdings in Telephone and Data Systems were worth $194,668,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Inceptionr LLC acquired a new position in shares of Telephone and Data Systems in the first quarter worth $596,000. Sei Investments Co. grew its position in Telephone and Data Systems by 11.9% in the first quarter. Sei Investments Co. now owns 35,493 shares of the Wireless communications provider’s stock worth $1,494,000 after acquiring an additional 3,778 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Telephone and Data Systems by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,482,147 shares of the Wireless communications provider’s stock worth $272,898,000 after acquiring an additional 90,097 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Telephone and Data Systems by 17.1% during the 1st quarter. Parallel Advisors LLC now owns 3,307 shares of the Wireless communications provider’s stock worth $139,000 after purchasing an additional 484 shares during the last quarter. Finally, Hahn Capital Management LLC acquired a new position in shares of Telephone and Data Systems during the 1st quarter worth $4,999,000. Institutional investors and hedge funds own 80.00% of the company’s stock.

Telephone and Data Systems Price Performance

Shares of TDS stock opened at $34.33 on Monday. The stock’s fifty day simple moving average is $37.70 and its 200 day simple moving average is $42.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.43 and a quick ratio of 3.42. Telephone and Data Systems, Inc. has a one year low of $33.01 and a one year high of $49.12. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 64.77 and a beta of 0.30.

Telephone and Data Systems (NYSE:TDS) last announced its earnings results on Friday, May 8th. The Wireless communications provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.87) by $1.98. The business had revenue of $309.45 million during the quarter, compared to analysts’ expectations of $313.27 million. Telephone and Data Systems had a net margin of 6.15% and a return on equity of 5.54%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) EPS. On average, analysts expect that Telephone and Data Systems, Inc. will post 0.94 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a $0.04 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Telephone and Data Systems’s dividend payout ratio (DPR) is 30.19%.

Wall Street Analysts Forecast Growth

TDS has been the topic of a number of analyst reports. Wall Street Zen raised Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Raymond James Financial downgraded Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. Finally, Weiss Ratings downgraded shares of Telephone and Data Systems from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $53.33.

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.