Convergence Investment Partners LLC Sells 14,675 Shares of Telephone & Data Systems, Inc. (TDS)

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Convergence Investment Partners LLC lowered its position in shares of Telephone & Data Systems, Inc. (NYSE:TDS) by 63.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,389 shares of the Wireless communications provider’s stock after selling 14,675 shares during the period. Convergence Investment Partners LLC’s holdings in Telephone & Data Systems were worth $230,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in TDS. Systematic Financial Management LP grew its position in Telephone & Data Systems by 4.0% in the 1st quarter. Systematic Financial Management LP now owns 52,170 shares of the Wireless communications provider’s stock valued at $1,462,000 after buying an additional 2,020 shares in the last quarter. Kiwi Wealth Investments Limited Partnership grew its position in Telephone & Data Systems by 4.1% in the 1st quarter. Kiwi Wealth Investments Limited Partnership now owns 57,590 shares of the Wireless communications provider’s stock valued at $1,614,000 after buying an additional 2,256 shares in the last quarter. Chicago Equity Partners LLC grew its position in Telephone & Data Systems by 3.7% in the 1st quarter. Chicago Equity Partners LLC now owns 84,420 shares of the Wireless communications provider’s stock valued at $2,366,000 after buying an additional 3,020 shares in the last quarter. State of Alaska Department of Revenue grew its position in Telephone & Data Systems by 40.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 10,636 shares of the Wireless communications provider’s stock valued at $291,000 after buying an additional 3,040 shares in the last quarter. Finally, Swiss National Bank grew its position in Telephone & Data Systems by 2.2% in the 1st quarter. Swiss National Bank now owns 171,000 shares of the Wireless communications provider’s stock valued at $4,793,000 after buying an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 83.29% of the company’s stock.

In other Telephone & Data Systems news, CAO Douglas W. Chambers sold 4,340 shares of the company’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $29.40, for a total value of $127,596.00. Following the completion of the sale, the chief accounting officer now directly owns 10,545 shares of the company’s stock, valued at approximately $310,023. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kurt B. Thaus sold 39,274 shares of the company’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $29.56, for a total transaction of $1,160,939.44. Following the completion of the sale, the vice president now directly owns 39,274 shares of the company’s stock, valued at $1,160,939.44. The disclosure for this sale can be found here. Insiders sold a total of 93,977 shares of company stock valued at $2,767,820 over the last three months. 16.27% of the stock is owned by corporate insiders.

Shares of TDS opened at $30.62 on Monday. The stock has a market capitalization of $3.36 billion, a P/E ratio of 57.77 and a beta of 0.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.96 and a quick ratio of 2.75. Telephone & Data Systems, Inc. has a 52-week low of $23.54 and a 52-week high of $30.80.

Telephone & Data Systems (NYSE:TDS) last issued its quarterly earnings results on Friday, August 3rd. The Wireless communications provider reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.06. Telephone & Data Systems had a net margin of 3.53% and a return on equity of 1.98%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company earned $0.09 EPS. Telephone & Data Systems’s revenue was up .6% on a year-over-year basis. equities research analysts expect that Telephone & Data Systems, Inc. will post 0.68 EPS for the current fiscal year.

TDS has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Telephone & Data Systems from a “hold” rating to a “strong-buy” rating and set a $31.00 target price for the company in a research report on Tuesday, May 1st. ValuEngine lowered shares of Telephone & Data Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Raymond James upgraded shares of Telephone & Data Systems from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 2nd. JPMorgan Chase & Co. lowered shares of Telephone & Data Systems from a “neutral” rating to an “underweight” rating and set a $34.00 target price for the company. in a research report on Wednesday, July 11th. Finally, Citigroup increased their target price on shares of Telephone & Data Systems from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $34.67.

Telephone & Data Systems Company Profile

Telephone and Data Systems, Inc, a telecommunications company, provides wireless, wireline, cable, and hosted and managed services in the United States. The company offers cellular services, such as postpaid national plans and prepaid service plans with voice, messaging, and data usage options; and business rate plans.

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Institutional Ownership by Quarter for Telephone & Data Systems (NYSE:TDS)

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