Voloridge Investment Management LLC Acquires 300,846 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Voloridge Investment Management LLC grew its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 79.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 681,641 shares of the Wireless communications provider’s stock after purchasing an additional 300,846 shares during the period. Voloridge Investment Management LLC’s holdings in Telephone and Data Systems were worth $23,251,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Independence Bank of Kentucky acquired a new stake in Telephone and Data Systems in the fourth quarter valued at $41,000. Federated Hermes Inc. acquired a new position in Telephone and Data Systems during the 4th quarter worth about $56,000. SBI Securities Co. Ltd. bought a new stake in shares of Telephone and Data Systems in the 4th quarter valued at about $74,000. Farther Finance Advisors LLC increased its stake in shares of Telephone and Data Systems by 74.5% in the fourth quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider’s stock valued at $92,000 after buying an additional 1,156 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Telephone and Data Systems by 139.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,749 shares of the Wireless communications provider’s stock valued at $128,000 after buying an additional 2,186 shares during the period. Institutional investors and hedge funds own 80.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TDS shares. Raymond James reaffirmed an “outperform” rating and issued a $47.00 price objective (down from $51.00) on shares of Telephone and Data Systems in a research note on Monday, May 5th. JPMorgan Chase & Co. raised their price target on shares of Telephone and Data Systems from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, February 24th.

Telephone and Data Systems Stock Performance

Shares of TDS opened at $33.94 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The firm’s fifty day simple moving average is $35.96 and its two-hundred day simple moving average is $35.09. Telephone and Data Systems, Inc. has a 12 month low of $16.64 and a 12 month high of $41.21. The stock has a market capitalization of $3.87 billion, a P/E ratio of -6.29 and a beta of 0.57.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, March 17th. Telephone and Data Systems’s payout ratio is -15.24%.

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.