Connor Clark & Lunn Investment Management Ltd. Buys 113,862 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 66.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,906 shares of the Wireless communications provider’s stock after acquiring an additional 113,862 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Telephone and Data Systems were worth $6,624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. increased its holdings in Telephone and Data Systems by 4,082.9% during the 2nd quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider’s stock worth $36,000 after purchasing an additional 1,674 shares in the last quarter. Quarry LP bought a new position in shares of Telephone and Data Systems during the second quarter worth about $40,000. CWM LLC raised its position in Telephone and Data Systems by 57.0% in the 2nd quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider’s stock valued at $82,000 after buying an additional 1,430 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Telephone and Data Systems in the 2nd quarter valued at approximately $88,000. Finally, GAMMA Investing LLC boosted its position in Telephone and Data Systems by 13.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,812 shares of the Wireless communications provider’s stock worth $100,000 after acquiring an additional 585 shares during the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Telephone and Data Systems Stock Up 3.4 %

NYSE:TDS opened at $34.12 on Friday. Telephone and Data Systems, Inc. has a twelve month low of $13.69 and a twelve month high of $34.57. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of -6.32 and a beta of 0.77. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. The stock’s 50 day moving average price is $26.82 and its two-hundred day moving average price is $22.81.

Telephone and Data Systems (NYSE:TDS) last issued its earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.19. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.24 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.16) earnings per share. Equities research analysts expect that Telephone and Data Systems, Inc. will post -0.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TDS shares. Raymond James raised shares of Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price objective on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th.

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.