CenterBook Partners LP Cuts Stock Holdings in Telephone and Data Systems, Inc. $TDS

CenterBook Partners LP reduced its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 78.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,170 shares of the Wireless communications provider’s stock after selling 276,910 shares during the period. CenterBook Partners LP owned about 0.07% of Telephone and Data Systems worth $3,028,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. increased its holdings in shares of Telephone and Data Systems by 4.0% in the 2nd quarter. American Century Companies Inc. now owns 3,607,857 shares of the Wireless communications provider’s stock worth $128,368,000 after purchasing an additional 137,494 shares in the last quarter. Carronade Capital Management LP boosted its position in shares of Telephone and Data Systems by 239.3% during the second quarter. Carronade Capital Management LP now owns 3,392,500 shares of the Wireless communications provider’s stock valued at $120,705,000 after buying an additional 2,392,500 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Telephone and Data Systems by 0.5% during the second quarter. Geode Capital Management LLC now owns 2,323,551 shares of the Wireless communications provider’s stock valued at $82,682,000 after buying an additional 11,999 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Telephone and Data Systems by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,335,759 shares of the Wireless communications provider’s stock worth $47,526,000 after buying an additional 26,169 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its position in Telephone and Data Systems by 0.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,190,657 shares of the Wireless communications provider’s stock worth $42,364,000 after buying an additional 6,729 shares during the last quarter. 80.00% of the stock is owned by institutional investors.

Telephone and Data Systems Stock Down 2.9%

Shares of TDS stock opened at $45.17 on Thursday. The company has a current ratio of 1.89, a quick ratio of 1.88 and a debt-to-equity ratio of 0.20. Telephone and Data Systems, Inc. has a 12 month low of $31.07 and a 12 month high of $47.79. The stock has a market cap of $5.19 billion, a P/E ratio of -41.83 and a beta of 0.32. The company has a 50 day simple moving average of $42.83 and a two-hundred day simple moving average of $40.20.

Telephone and Data Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, December 15th. Telephone and Data Systems’s dividend payout ratio (DPR) is currently -14.81%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TDS shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Telephone and Data Systems in a report on Monday, December 29th. Wall Street Zen downgraded shares of Telephone and Data Systems from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Citigroup lifted their target price on shares of Telephone and Data Systems from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Finally, Zacks Research lowered shares of Telephone and Data Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Telephone and Data Systems currently has an average rating of “Hold” and an average target price of $51.67.

Telephone and Data Systems Profile

Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.