Seven Eight Capital LP Purchases New Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Seven Eight Capital LP acquired a new position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 86,877 shares of the Wireless communications provider’s stock, valued at approximately $1,801,000. Seven Eight Capital LP owned 0.08% of Telephone and Data Systems at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Telephone and Data Systems during the 2nd quarter worth about $211,000. Edgestream Partners L.P. lifted its position in Telephone and Data Systems by 16.6% during the second quarter. Edgestream Partners L.P. now owns 163,778 shares of the Wireless communications provider’s stock worth $3,395,000 after acquiring an additional 23,315 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Telephone and Data Systems by 303.5% during the second quarter. Renaissance Technologies LLC now owns 148,427 shares of the Wireless communications provider’s stock worth $3,077,000 after acquiring an additional 111,643 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Telephone and Data Systems by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,018,541 shares of the Wireless communications provider’s stock valued at $124,761,000 after purchasing an additional 507,512 shares during the last quarter. Finally, WINTON GROUP Ltd grew its position in shares of Telephone and Data Systems by 49.5% in the second quarter. WINTON GROUP Ltd now owns 25,919 shares of the Wireless communications provider’s stock valued at $537,000 after purchasing an additional 8,579 shares during the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. dropped their price target on Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, May 29th.

Telephone and Data Systems Trading Down 1.7 %

Shares of Telephone and Data Systems stock opened at $23.24 on Thursday. Telephone and Data Systems, Inc. has a 52-week low of $13.69 and a 52-week high of $24.92. The stock has a market cap of $2.63 billion, a PE ratio of -4.77 and a beta of 0.81. The firm has a 50-day moving average of $21.75 and a 200-day moving average of $19.18. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.37 and a current ratio of 1.51.

Telephone and Data Systems (NYSE:TDS) last announced its earnings results on Friday, August 2nd. The Wireless communications provider reported ($0.13) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.13). Telephone and Data Systems had a negative net margin of 9.31% and a positive return on equity of 0.73%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business posted ($0.17) EPS. The business’s revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Telephone and Data Systems, Inc. will post -0.43 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, September 16th. This represents a $0.16 dividend on an annualized basis and a yield of 0.69%. Telephone and Data Systems’s dividend payout ratio (DPR) is presently -3.29%.

About Telephone and Data Systems

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.