Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Short Interest Down 8.5% in September

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 4,290,000 shares, a decline of 8.5% from the August 31st total of 4,690,000 shares. Based on an average daily trading volume, of 485,300 shares, the days-to-cover ratio is currently 8.8 days. Currently, 5.6% of the company’s shares are sold short.

Consolidated Communications Stock Performance

NASDAQ CNSL remained flat at $4.64 during trading hours on Tuesday. 205,811 shares of the company’s stock were exchanged, compared to its average volume of 583,270. The company has a 50 day moving average of $4.58 and a 200-day moving average of $4.43. The company has a market cap of $549.52 million, a PE ratio of -1.79 and a beta of 0.98. The company has a debt-to-equity ratio of 7.51, a quick ratio of 0.72 and a current ratio of 0.72. Consolidated Communications has a 1 year low of $3.28 and a 1 year high of $4.65.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in Consolidated Communications in the first quarter valued at about $53,000. Susquehanna Fundamental Investments LLC acquired a new stake in Consolidated Communications in the first quarter valued at $83,000. Gamco Investors INC. ET AL acquired a new stake in Consolidated Communications in the first quarter valued at $110,000. Rather & Kittrell Inc. acquired a new stake in shares of Consolidated Communications during the 2nd quarter worth about $112,000. Finally, AQR Capital Management LLC increased its position in Consolidated Communications by 22.1% during the second quarter. AQR Capital Management LLC now owns 28,017 shares of the utilities provider’s stock worth $123,000 after acquiring an additional 5,074 shares during the period. Institutional investors own 79.98% of the company’s stock.

About Consolidated Communications

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.