Stock Traders Purchase High Volume of Put Options on Telephone and Data Systems (NYSE:TDS)

Telephone and Data Systems, Inc. (NYSE:TDS) was the target of some unusual options trading on Wednesday. Investors purchased 5,000 put options on the stock. This represents an increase of 249% compared to the typical daily volume of 1,433 put options.

Telephone and Data Systems Trading Up 2.0 %

NYSE:TDS opened at $29.62 on Thursday. Telephone and Data Systems has a 12-month low of $13.69 and a 12-month high of $30.44. The firm has a market cap of $3.35 billion, a PE ratio of -6.13 and a beta of 0.81. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average price of $24.30 and a 200 day moving average price of $21.14.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported ($0.13) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.13). Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 9.31%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the business posted ($0.17) EPS. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Telephone and Data Systems will post -0.44 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Monday, September 16th. Telephone and Data Systems’s dividend payout ratio (DPR) is presently -3.31%.

Institutional Investors Weigh In On Telephone and Data Systems

A number of hedge funds and other institutional investors have recently modified their holdings of TDS. Blue Trust Inc. grew its stake in shares of Telephone and Data Systems by 4,082.9% during the second 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 purchased a new position in shares of Telephone and Data Systems in the 2nd quarter valued at about $40,000. CWM LLC raised its position in shares of Telephone and Data Systems by 57.0% during the 2nd quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider’s stock worth $82,000 after acquiring an additional 1,430 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Telephone and Data Systems during the 2nd quarter worth about $88,000. Finally, GAMMA Investing LLC lifted its stake in Telephone and Data Systems by 13.8% during the second quarter. GAMMA Investing LLC now owns 4,812 shares of the Wireless communications provider’s stock worth $100,000 after purchasing 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 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.