Telephone and Data Systems Sees Unusually Large Options Volume (NYSE:TDS)

Telephone and Data Systems, Inc. (NYSE:TDS) was the recipient of unusually large options trading on Friday. Investors acquired 4,548 call options on the company. This is an increase of approximately 182% compared to the typical daily volume of 1,613 call options.

Institutional Trading of Telephone and Data Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Securities Inc. acquired a new stake in shares of Telephone and Data Systems in the fourth quarter valued at about $25,000. Blue Trust Inc. grew its stake in Telephone and Data Systems by 4,082.9% during the second quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider’s stock worth $36,000 after purchasing an additional 1,674 shares during the period. Quarry LP bought a new position in Telephone and Data Systems during the second quarter worth $40,000. CWM LLC increased its stake in Telephone and Data Systems by 57.0% in the second quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider’s stock valued at $82,000 after purchasing an additional 1,430 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Telephone and Data Systems during the second quarter valued at about $88,000. 80.00% of the stock is currently owned by institutional investors.

Telephone and Data Systems Stock Performance

Shares of TDS traded down $0.33 during midday trading on Friday, reaching $23.17. 354,133 shares of the stock were exchanged, compared to its average volume of 1,107,604. Telephone and Data Systems has a twelve month low of $13.69 and a twelve month high of $24.92. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 0.84. The stock’s 50 day simple moving average is $21.80 and its 200 day simple moving average is $19.21. The company has a market cap of $2.62 billion, a P/E ratio of -4.83 and a beta of 0.81.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported ($0.13) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.13). The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Telephone and Data Systems had a negative net margin of 9.31% and a positive return on equity of 0.73%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) earnings per share. On average, sell-side analysts expect that Telephone and Data Systems will post -0.43 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, September 16th. This represents a $0.16 annualized dividend and a dividend yield of 0.69%. Telephone and Data Systems’s dividend payout ratio is currently -3.29%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut 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 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.