Private Management Group Inc. Sells 255,081 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Private Management Group Inc. reduced its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 9.1% during the 4th quarter, Holdings Channel reports. The fund owned 2,550,650 shares of the Wireless communications provider’s stock after selling 255,081 shares during the quarter. Telephone and Data Systems makes up approximately 1.8% of Private Management Group Inc.’s portfolio, making the stock its 6th biggest position. Private Management Group Inc.’s holdings in Telephone and Data Systems were worth $46,804,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TDS. SG Americas Securities LLC acquired a new position in Telephone and Data Systems during the 3rd quarter worth $1,050,000. Bfsg LLC acquired a new position in Telephone and Data Systems during the 3rd quarter worth $399,000. Pinnacle Associates Ltd. lifted its holdings in Telephone and Data Systems by 9.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 491,828 shares of the Wireless communications provider’s stock worth $9,005,000 after buying an additional 41,690 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in Telephone and Data Systems by 5.1% during the 3rd quarter. New York State Teachers Retirement System now owns 146,186 shares of the Wireless communications provider’s stock worth $2,677,000 after buying an additional 7,045 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Telephone and Data Systems by 88.1% during the 3rd quarter. Mackenzie Financial Corp now owns 53,947 shares of the Wireless communications provider’s stock worth $913,000 after buying an additional 25,270 shares in the last quarter. 80.00% of the stock is owned by institutional investors and hedge funds.

Telephone and Data Systems Trading Up 1.0 %

Shares of TDS stock traded up $0.15 during trading hours on Tuesday, reaching $15.72. The company had a trading volume of 712,707 shares, compared to its average volume of 947,559. The company has a 50 day moving average of $15.55 and a 200 day moving average of $17.53. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 1.23. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -3.11 and a beta of 0.81. Telephone and Data Systems, Inc. has a 1-year low of $6.43 and a 1-year high of $21.75.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings results on Friday, February 16th. The Wireless communications provider reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.28 billion. Telephone and Data Systems had a positive return on equity of 0.21% and a negative net margin of 9.69%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.38) EPS. On average, equities research analysts anticipate that Telephone and Data Systems, Inc. will post -1 EPS for the current year.

Telephone and Data Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.19 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.83%. This is a boost from Telephone and Data Systems’s previous quarterly dividend of $0.19. Telephone and Data Systems’s dividend payout ratio is currently -15.05%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Telephone and Data Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th.

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.