American Century Companies Inc. Acquires 15,720 Shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)

American Century Companies Inc. grew its stake in shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 16.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 110,849 shares of the utilities provider’s stock after purchasing an additional 15,720 shares during the period. American Century Companies Inc. owned about 0.09% of Consolidated Communications worth $488,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CNSL. Private Advisor Group LLC grew its holdings in 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. Hsbc Holdings PLC purchased a new stake in shares of Consolidated Communications in the fourth quarter valued at about $2,103,000. Gabelli Funds LLC raised its holdings in shares of Consolidated Communications by 2,427.1% in the first quarter. Gabelli Funds LLC now owns 379,061 shares of the utilities provider’s stock valued at $1,638,000 after purchasing an additional 364,061 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Consolidated Communications during the first quarter valued at about $1,488,000. Finally, Trium Capital LLP purchased a new position in Consolidated Communications during the second quarter worth about $680,000. 79.98% of the stock is owned by hedge funds and other institutional investors.

Consolidated Communications Stock Performance

Shares of Consolidated Communications stock opened at $4.65 on Thursday. The firm has a market capitalization of $550.70 million, a P/E ratio of -1.80 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 business’s fifty day simple moving average is $4.58 and its 200 day simple moving average is $4.43. Consolidated Communications Holdings, Inc. has a 12 month low of $3.28 and a 12 month high of $4.65.

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

Wall Street Analysts Forecast Growth

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