Dimensional Fund Advisors LP recently announced the acquisition of new stake in Telephone And Data Systems, Inc. (NYSE:TDS). The institutional investor has increased its shareholding in the Communication Services company by 16.01% to 4.01 million shares with purchase of 0.55 million shares. This fresh investment now brings its stake to 3.78% valued currently at $79.0 million. In addition, Third Point LLC raised its holdings by 2.14 million to 2.14 million shares. And GAMCO Asset Management, Inc. has lifted its position by 1.02% or 21483.0 shares – to 2.12 million shares.
With over 0.45 million Telephone And Data Systems, Inc. (TDS) shares trading Friday and a closing price of $17.97 on the day, the dollar volume was approximately $8.15 million. The shares have shown a positive half year performance of 133.68% and its price on 12/22/23 lost nearly -2.97%. Currently, there are 105.00M common shares owned by the public and among those 98.67M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for TDS have a consensus price objective of $31.50. The analysts have set the share’s price value over the next 12 months at a high of $38.00 and a low of $25.00. The average price target is 42.95% above its recent price level and an upside to the estimated low will see the stock gain 28.12% over that period. But an upside of 52.71% will see the stock hit the forecast high price target while median target price for the stock is $31.50.
Insiders at the company have transacted a total of 47 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 498,260 shares. Insider sales of the common stock occurred on 17 occasions, with total insider shares sold totaling 972,532 shares.
The top 3 mutual fund holders in Telephone And Data Systems, Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. iShares Core S&P Small Cap ETF owns 6.55 million shares of the company’s stock, all valued at over $129.08 million. The company bought an additional 3318.0 shares recently to bring their total holdings to about 6.18% of the shares outstanding. Vanguard Total Stock Market ETF bought 5432.0 shares to see its total holdings expand to 2.98 million shares valued at over $58.64 million and representing 2.81% of the shares outstanding. Vanguard Small Cap Index Fund bought 7524.0 shares to bring its total holdings to over 2.45 million shares at a value of $48.28 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.31% of the shares outstanding.
Shares of Telephone And Data Systems, Inc. (NYSE: TDS) opened at $18.51, down -$0.01 from a prior closing price of $18.52. However, the script later moved the day high at 18.80, down -2.97%. The company’s stock has a 5-day price change of 1.41% and 0.50% over the past three months. TDS shares are trading 71.31% year to date (YTD), with the 12-month market performance up to 76.35% higher. It has a 12-month low price of $6.43 and touched a high of $21.75 over the same period. TDS has an average intraday trading volume of 1.09 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.56%, -3.84%, and 34.03% respectively.
Institutional ownership of Telephone And Data Systems, Inc. (NYSE: TDS) shares accounts for 81.75% of the company’s 105.00M shares outstanding. Mutual fund holders own 49.04%, while other institutional holders and individual stakeholders account for 7.45% and 38.17% respectively.
It has a market capitalization of $2.03B and a beta (3y monthly) value of 0.89. The earnings-per-share (ttm) stands at -$0.78. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.82% over the week and 4.85% over the month.
Analysts forecast that Telephone And Data Systems, Inc. (TDS) will achieve an EPS of -$0.09 for the current quarter, $0.04 for the next quarter and -$1.16 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.16 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.38 a year ago. Earnings per share for the fiscal year are expected to decrease by -604.56%, and -7.92% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Telephone And Data Systems, Inc. (TDS) as a “Moderate Buy” at a consensus score of 2.25. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TDS, a number of firms have released research notes about the stock. JP Morgan stated their Overweight rating for the stock in a research note on August 08, 2023, with the firm’s price target at $38.
