Stock Traders Buy Large Volume of Put Options on Telephone and Data Systems (NYSE:TDS)

Telephone and Data Systems, Inc. (NYSE:TDS) saw some unusual options trading activity on Wednesday. Stock investors acquired 5,000 put options on the company. This represents an increase of approximately 249% compared to the typical daily volume of 1,433 put options.

Telephone and Data Systems Stock Performance

TDS stock opened at $29.71 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.51 and a quick ratio of 1.37. Telephone and Data Systems has a 1 year low of $13.69 and a 1 year high of $30.44. The company has a market cap of $3.36 billion, a P/E ratio of -6.15 and a beta of 0.81. The stock’s fifty day moving average price is $24.47 and its 200-day moving average price is $21.20.

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 (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.13). The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 9.31%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) EPS. On average, equities analysts forecast that Telephone and Data Systems will post -0.44 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.54%. The ex-dividend date was Monday, September 16th. Telephone and Data Systems’s dividend payout ratio is -3.31%.

Institutional Investors Weigh In On Telephone and Data Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in Telephone and Data Systems by 4,082.9% during the 2nd quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider’s stock valued at $36,000 after buying an additional 1,674 shares in the last quarter. Quarry LP bought a new stake in Telephone and Data Systems in the 2nd quarter valued at $40,000. CWM LLC lifted its stake in Telephone and Data Systems by 57.0% in the 2nd quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider’s stock worth $82,000 after purchasing an additional 1,430 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Telephone and Data Systems during the 2nd quarter valued at about $88,000. Finally, Natixis purchased a new position in shares of Telephone and Data Systems during the first quarter valued at about $96,000. Institutional investors own 80.00% of the company’s stock.

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.