Hedge Funds Are Dumping Telephone & Data Systems, Inc. (TDS)

Seeing as Telephone & Data Systems, Inc. (NYSE:TDS) has witnessed a falling interest from hedge fund managers, we can see that there lies a certain “tier” of funds who were dropping their full holdings heading into Q4. Intriguingly, Millennium Management Subsidiary’s Blue Arrow Capital Management cut the biggest investment of the 700 funds watched by Insider Monkey, valued at close to $3.2 million in call options., and Buckley Ratchford’s Wingspan Investment Management was right behind this move, as the fund dropped about $1 million worth of shares. These moves are important to note, as total hedge fund interest was cut by 1 fund heading into Q4.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Telephone & Data Systems, Inc. (NYSE:TDS) but similarly valued. We will take a look at Ascena Retail Group Inc (NASDAQ:ASNA), Crane Co. (NYSE:CR), Thor Industries, Inc. (NYSE:THO), and First Citizens BancShares Inc. (NASDAQ:FCNCA). This group of stocks’ market valuations is closest to Telephone & Data Systems, Inc. (NYSE:TDS)’s market valuation.

As you can see, these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $275 million. That figure was $288 million in Telephone & Data Systems, Inc. (NYSE:TDS)’s case. Ascena Retail Group Inc (NASDAQ:ASNA) is the most popular stock in this table. On the other hand, First Citizens BancShares Inc. (NASDAQ:FCNCA) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks, Telephone & Data Systems, Inc. (NYSE:TDS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.