Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Sees Significant Increase in Short Interest

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 4,420,000 shares, a growth of 6.8% from the November 30th total of 4,140,000 shares. Based on an average trading volume of 737,600 shares, the days-to-cover ratio is presently 6.0 days. Currently, 5.8% of the shares of the company are sold short.

Hedge Funds Weigh In On Consolidated Communications

Hedge funds have recently bought and sold shares of the company. State Street Corp boosted its holdings in Consolidated Communications by 2.5% in the 3rd quarter. State Street Corp now owns 2,948,326 shares of the utilities provider’s stock valued at $13,680,000 after purchasing an additional 71,384 shares during the period. Gardner Lewis Asset Management L P purchased a new position in Consolidated Communications during the second quarter worth about $2,247,000. Jane Street Group LLC increased its stake in Consolidated Communications by 154.9% in the 3rd quarter. Jane Street Group LLC now owns 276,771 shares of the utilities provider’s stock worth $1,284,000 after acquiring an additional 168,210 shares during the last quarter. Trium Capital LLP purchased a new stake in shares of Consolidated Communications in the 2nd quarter valued at about $680,000. Finally, Wolverine Asset Management LLC boosted its position in shares of Consolidated Communications by 91.4% during the 2nd quarter. Wolverine Asset Management LLC now owns 308,682 shares of the utilities provider’s stock valued at $1,358,000 after acquiring an additional 147,416 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Consolidated Communications Price Performance

CNSL traded up $0.01 during trading on Thursday, reaching $4.72. 13,550,700 shares of the company were exchanged, compared to its average volume of 684,254. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 10.13. The company has a market cap of $559.17 million, a price-to-earnings ratio of -2.30 and a beta of 0.98. Consolidated Communications has a 12-month low of $4.18 and a 12-month high of $4.75. The company’s 50-day moving average is $4.67 and its two-hundred day moving average is $4.58.

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.