Consolidated Communications (NASDAQ:CNSL) Sets New 1-Year High at $4.65

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $4.65 and last traded at $4.61, with a volume of 12857 shares changing hands. The stock had previously closed at $4.62.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Consolidated Communications in a report on Saturday, July 27th. They issued a “sell” rating on the stock.

Consolidated Communications Stock Performance

The stock has a market capitalization of $545.96 million, a PE ratio of -1.78 and a beta of 0.98. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 7.51. The firm’s fifty day moving average is $4.56 and its 200-day moving average is $4.41.

Consolidated Communications (NASDAQ:CNSL) last released its earnings results on Tuesday, August 6th. The utilities provider reported ($0.39) earnings per share for the quarter. The firm had revenue of $268.71 million during the quarter. Consolidated Communications had a negative net margin of 17.74% and a negative return on equity of 25.00%.

Hedge Funds Weigh In On Consolidated Communications

A number of institutional investors and hedge funds have recently made changes to their positions in CNSL. Private Advisor Group LLC grew its position in shares of Consolidated Communications by 54.5% during the first quarter. Private Advisor Group LLC now owns 1,689,559 shares of the utilities provider’s stock worth $7,299,000 after buying an additional 596,244 shares in the last quarter. Gardner Lewis Asset Management L P acquired a new position in shares of Consolidated Communications during the second quarter worth about $2,247,000. Hsbc Holdings PLC acquired a new position in shares of Consolidated Communications during the fourth quarter worth about $2,103,000. Gabelli Funds LLC grew its position in shares of Consolidated Communications by 2,427.1% during the first quarter. Gabelli Funds LLC now owns 379,061 shares of the utilities provider’s stock worth $1,638,000 after buying an additional 364,061 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Consolidated Communications during the first quarter worth about $1,488,000. 79.98% of the stock is owned by institutional investors and hedge funds.

Consolidated Communications Company Profile

Consolidated Communications Holdings, Inc, together with its subsidiaries, provides broadband and business communication solutions for consumer, commercial, and carrier channels in the United States. It offers high-speed broadband Internet access, SIP trunking, and voice over Internet protocol (VoIP) phone services; commercial data connectivity services in various markets, including Ethernet services, private line data services, software defined wide area network, and multi-protocol label switching services; networking services; cloud-based services; and data center and disaster recovery solutions.