Connor Clark & Lunn Investment Management Ltd. Has $5.61 Million Stock Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 42.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 164,407 shares of the Wireless communications provider’s stock after selling 120,499 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Telephone and Data Systems were worth $5,608,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in Telephone and Data Systems by 14.5% during the 4th quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider’s stock worth $82,000 after purchasing an additional 303 shares during the last quarter. GAMMA Investing LLC raised its holdings in Telephone and Data Systems by 8.3% during the 4th quarter. GAMMA Investing LLC now owns 5,742 shares of the Wireless communications provider’s stock worth $196,000 after purchasing an additional 440 shares during the last quarter. Quarry LP raised its holdings in Telephone and Data Systems by 35.5% during the 3rd quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider’s stock worth $61,000 after purchasing an additional 692 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Telephone and Data Systems by 74.5% during the 4th quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider’s stock worth $92,000 after purchasing an additional 1,156 shares during the last quarter. Finally, Independence Bank of Kentucky bought a new stake in Telephone and Data Systems during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 80.00% of the company’s stock.

Telephone and Data Systems Price Performance

Shares of TDS opened at $35.03 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59. The stock has a 50 day simple moving average of $35.87 and a 200 day simple moving average of $31.33. Telephone and Data Systems, Inc. has a 52-week low of $14.04 and a 52-week high of $41.21. The firm has a market capitalization of $3.99 billion, a PE ratio of -6.49 and a beta of 0.75.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.23. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. Sell-side analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, March 17th. Telephone and Data Systems’s dividend payout ratio (DPR) is currently -18.60%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their price target on Telephone and Data Systems from $53.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, February 24th.

Telephone and Data Systems 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.