Connor Clark & Lunn Investment Management Ltd. Has $1.88 Million Stake in Telephone and Data Systems, Inc. $TDS

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 46.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,964 shares of the Wireless communications provider’s stock after selling 46,604 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Telephone and Data Systems were worth $1,884,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Telephone and Data Systems by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 885,638 shares of the Wireless communications provider’s stock valued at $31,511,000 after buying an additional 9,854 shares during the period. Bank of Montreal Can lifted its position in shares of Telephone and Data Systems by 1.0% during the 2nd quarter. Bank of Montreal Can now owns 45,795 shares of the Wireless communications provider’s stock valued at $1,629,000 after acquiring an additional 470 shares during the period. Strs Ohio grew its holdings in shares of Telephone and Data Systems by 3.1% during the 2nd quarter. Strs Ohio now owns 29,700 shares of the Wireless communications provider’s stock worth $1,057,000 after purchasing an additional 900 shares in the last quarter. Amalgamated Bank increased its position in shares of Telephone and Data Systems by 1.0% in the second quarter. Amalgamated Bank now owns 28,061 shares of the Wireless communications provider’s stock worth $998,000 after purchasing an additional 270 shares during the period. Finally, Assetmark Inc. increased its position in shares of Telephone and Data Systems by 53.1% in the second quarter. Assetmark Inc. now owns 1,297 shares of the Wireless communications provider’s stock worth $46,000 after purchasing an additional 450 shares during the period. 80.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of Telephone and Data Systems from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Raymond James Financial upped their price target on shares of Telephone and Data Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price objective on shares of Telephone and Data Systems from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, August 12th. Wall Street Zen cut Telephone and Data Systems from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings downgraded Telephone and Data Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Insider Transactions at Telephone and Data Systems

In related news, CAO Anita J. Kroll sold 16,217 shares of Telephone and Data Systems stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $39.02, for a total transaction of $632,787.34. Following the sale, the chief accounting officer directly owned 870 shares in the company, valued at $33,947.40. This trade represents a 94.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 25,695 shares of company stock valued at $1,003,343. 14.97% of the stock is owned by company insiders.

Telephone and Data Systems Stock Down 1.1%

Shares of NYSE:TDS opened at $38.29 on Monday. Telephone and Data Systems, Inc. has a 52-week low of $30.59 and a 52-week high of $42.74. The company has a market capitalization of $4.40 billion, a PE ratio of -39.47 and a beta of 0.35. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.65 and a current ratio of 1.78. The company has a fifty day moving average of $38.68 and a 200-day moving average of $37.31.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings data on Friday, November 7th. The Wireless communications provider reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.13. Telephone and Data Systems had a positive return on equity of 0.92% and a negative net margin of 0.85%.The business had revenue of $308.52 million for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the company posted ($0.73) EPS. Telephone and Data Systems’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, equities analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

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.