Bank of New York Mellon Corp Purchases 16,217 Shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)

Bank of New York Mellon Corp boosted its position in shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 2.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 604,060 shares of the utilities provider’s stock after acquiring an additional 16,217 shares during the period. Bank of New York Mellon Corp owned 0.51% of Consolidated Communications worth $2,658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gabelli Funds LLC raised its stake in Consolidated Communications by 2,427.1% during the 1st quarter. Gabelli Funds LLC now owns 379,061 shares of the utilities provider’s stock worth $1,638,000 after acquiring an additional 364,061 shares during the period. Private Advisor Group LLC raised its stake in Consolidated Communications by 54.5% during the 1st quarter. Private Advisor Group LLC now owns 1,689,559 shares of the utilities provider’s stock worth $7,299,000 after acquiring an additional 596,244 shares during the period. Hsbc Holdings PLC bought a new stake in Consolidated Communications during the 4th quarter worth approximately $2,103,000. PenderFund Capital Management Ltd. bought a new stake in Consolidated Communications during the 4th quarter worth approximately $388,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Consolidated Communications during the 1st quarter worth approximately $83,000. Institutional investors own 79.98% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Consolidated Communications Price Performance

CNSL stock opened at $4.62 on Monday. Consolidated Communications Holdings, Inc. has a one year low of $3.28 and a one year high of $4.65. The company’s fifty day moving average price is $4.54 and its 200-day moving average price is $4.40. The company has a debt-to-equity ratio of 7.51, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $547.38 million, a PE ratio of -1.78 and a beta of 0.98.

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

Consolidated Communications 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.