Consolidated Communications (NASDAQ:CNSL) Sets New 1-Year High – Here’s Why

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $4.72 and last traded at $4.70, with a volume of 5188314 shares changing hands. The stock had previously closed at $4.66.

Consolidated Communications Price Performance

The company has a debt-to-equity ratio of 10.13, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $556.80 million, a price-to-earnings ratio of -2.29 and a beta of 0.99. The stock has a 50 day moving average price of $4.65 and a 200-day moving average price of $4.57.

Institutional Investors Weigh In On Consolidated Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC lifted its stake in Consolidated Communications by 34.1% in the 2nd quarter. Private Advisor Group LLC now owns 2,264,899 shares of the utilities provider’s stock worth $9,966,000 after purchasing an additional 575,340 shares in the last quarter. Gardner Lewis Asset Management L P purchased a new position in Consolidated Communications during the second quarter worth approximately $2,247,000. Jane Street Group LLC boosted its stake in Consolidated Communications by 154.9% during the third quarter. Jane Street Group LLC now owns 276,771 shares of the utilities provider’s stock worth $1,284,000 after buying an additional 168,210 shares during the last quarter. Trium Capital LLP purchased a new stake in Consolidated Communications in the 2nd quarter valued at $680,000. Finally, Wolverine Asset Management LLC increased its stake in shares of Consolidated Communications by 91.4% in the 2nd quarter. Wolverine Asset Management LLC now owns 308,682 shares of the utilities provider’s stock worth $1,358,000 after acquiring an additional 147,416 shares during the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

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.