Private Management Group Inc. Has $46.80 Million Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Private Management Group Inc. trimmed its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 holdings, making the stock its 6th largest position. Private Management Group Inc. owned 2.26% of Telephone and Data Systems worth $46,804,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TDS. Anchor Investment Management LLC bought a new stake in shares of Telephone and Data Systems during the fourth quarter valued at approximately $46,000. GAMMA Investing LLC bought a new stake in shares of Telephone and Data Systems during the fourth quarter valued at about $93,000. Neo Ivy Capital Management acquired a new stake in Telephone and Data Systems in the third quarter worth about $109,000. Waldron Private Wealth LLC bought a new position in Telephone and Data Systems in the 3rd quarter valued at about $201,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Telephone and Data Systems by 104.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 19,043 shares of the Wireless communications provider’s stock worth $349,000 after buying an additional 9,730 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors.

Telephone and Data Systems Price Performance

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

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

Telephone and Data Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.19 dividend. 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. The ex-dividend date was Thursday, March 14th. Telephone and Data Systems’s payout ratio is presently -15.05%.

Analyst Upgrades and Downgrades

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

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.