First Mercantile Trust Co Lowers stake in Telephone & Data Systems (TDS)

Telephone & Data Systems (TDS) : First Mercantile Trust Co reduced its stake in Telephone & Data Systems by 20.26% during the most recent quarter end. The investment management company now holds a total of 21,682 shares of Telephone & Data Systems which is valued at $578,476 after selling 5,508 shares in Telephone & Data Systems , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Telephone & Data Systems makes up approximately 0.08% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading reduced its stake in TDS by selling 2,616 shares or 47.45% in the most recent quarter. The Hedge Fund company now holds 2,897 shares of TDS which is valued at $77,292. Telephone & Data Systems makes up approx 0.01% of Simplex Trading’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in TDS by selling 42,566 shares or 74.73% in the most recent quarter. The Hedge Fund company now holds 14,395 shares of TDS which is valued at $391,544.

Telephone & Data Systems closed down -0.39 points or -1.44% at $26.68 with 3,72,956 shares getting traded on Friday. Post opening the session at $27.1, the shares hit an intraday low of $26.56 and an intraday high of $27.15 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Telephone & Data Systems reported $0.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Aug 5, 2016. Analyst had a consensus of $0.18. The company had revenue of $1283.00 million for the quarter, compared to analysts expectations of $1268.73 million. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS.

Telephone and Data Systems Inc. (TDS) is a diversified telecommunications company. The Company is engaged in providing telecommunications services. TDS conducts its Wireless operations through its subsidiary United States Cellular Corporation (U.S. Cellular). TDS provides Wireline services cable services and hosted and managed services through its wholly-owned subsidiary TDS Telecommunications Corporation. U.S. Cellular offers a range of Wireless devices such as handsets modems mobile hotspots home phone and tablets for use by its customers. TDS Telecom operates in three segments: Wireline which provides retail telecommunications services to residential and commercial customers; Cable which provides colocation and managed services and Hosted and Managed Services which offers a suite of information technology (IT) solutions including cloud and hosting solutions managed services enterprise resource planning application management professional services and IT hardware.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *