New York State Teachers Retirement System Sells 9,348 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

New York State Teachers Retirement System decreased its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 6.9% during the 3rd quarter, Holdings Channel reports. The firm owned 126,538 shares of the Wireless communications provider’s stock after selling 9,348 shares during the quarter. New York State Teachers Retirement System’s holdings in Telephone and Data Systems were worth $2,942,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TDS. GAMMA Investing LLC grew its stake in Telephone and Data Systems by 10.2% during the third quarter. GAMMA Investing LLC now owns 5,302 shares of the Wireless communications provider’s stock worth $123,000 after buying an additional 490 shares during the last quarter. Victory Capital Management Inc. grew its position in Telephone and Data Systems by 1.4% during the 2nd quarter. Victory Capital Management Inc. now owns 41,514 shares of the Wireless communications provider’s stock worth $861,000 after acquiring an additional 554 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Telephone and Data Systems by 14.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,146 shares of the Wireless communications provider’s stock valued at $107,000 after purchasing an additional 630 shares in the last quarter. Diversified Trust Co raised its position in Telephone and Data Systems by 2.5% in the 3rd quarter. Diversified Trust Co now owns 31,770 shares of the Wireless communications provider’s stock valued at $739,000 after purchasing an additional 771 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Telephone and Data Systems by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 49,600 shares of the Wireless communications provider’s stock worth $1,028,000 after purchasing an additional 800 shares in the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.

Telephone and Data Systems Price Performance

TDS opened at $32.44 on Friday. The company has a fifty day moving average price of $25.16 and a two-hundred day moving average price of $21.70. The firm has a market capitalization of $3.67 billion, a PE ratio of -6.01 and a beta of 0.77. Telephone and Data Systems, Inc. has a 52 week low of $13.69 and a 52 week high of $34.57. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Friday, November 1st. The Wireless communications provider reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.19. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the firm earned ($0.16) earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, analysts anticipate that Telephone and Data Systems, Inc. will post -0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TDS shares. JPMorgan Chase & Co. raised their target price on Telephone and Data Systems from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday. Raymond James upgraded shares of Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a research report on Thursday.

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.