Telephone and Data Systems, Inc. (NYSE:TDS) Short Interest Up 23.9% in October

Telephone and Data Systems, Inc. (NYSE:TDS) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 3,160,000 shares, an increase of 23.9% from the October 15th total of 2,550,000 shares. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is presently 3.0 days. Approximately 3.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several brokerages recently weighed in on TDS. JPMorgan Chase & Co. boosted their price objective on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Raymond James upgraded 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 note on Thursday, November 7th.

Telephone and Data Systems Stock Up 0.6 %

Shares of Telephone and Data Systems stock traded up $0.19 during midday trading on Friday, hitting $30.82. The company had a trading volume of 219,944 shares, compared to its average volume of 1,102,405. The company has a 50 day moving average of $25.92 and a 200 day moving average of $22.25. 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 market capitalization of $3.48 billion, a P/E ratio of -5.71 and a beta of 0.77. Telephone and Data Systems has a 52-week low of $13.69 and a 52-week high of $34.57.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.19. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.24 billion. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.16) EPS. On average, equities analysts predict that Telephone and Data Systems will post -0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in Telephone and Data Systems by 10.2% in the 3rd quarter. GAMMA Investing LLC now owns 5,302 shares of the Wireless communications provider’s stock worth $123,000 after purchasing an additional 490 shares in the last quarter. Victory Capital Management Inc. raised its stake in Telephone and Data Systems by 1.4% in the 2nd quarter. Victory Capital Management Inc. now owns 41,514 shares of the Wireless communications provider’s stock valued at $861,000 after purchasing an additional 554 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Telephone and Data Systems by 14.0% in the second quarter. Nisa Investment Advisors LLC now owns 5,146 shares of the Wireless communications provider’s stock valued at $107,000 after buying an additional 630 shares during the last quarter. Aigen Investment Management LP lifted its stake in Telephone and Data Systems by 5.3% in the 3rd quarter. Aigen Investment Management LP now owns 13,589 shares of the Wireless communications provider’s stock worth $316,000 after purchasing an additional 685 shares in the last quarter. Finally, Diversified Trust Co lifted its position in Telephone and Data Systems by 2.5% during the third quarter. Diversified Trust Co now owns 31,770 shares of the Wireless communications provider’s stock worth $739,000 after buying an additional 771 shares in the last quarter. Institutional investors own 80.00% of the company’s stock.

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.