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

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 4,290,000 shares, a decrease of 8.5% from the August 31st total of 4,690,000 shares. Based on an average daily volume of 485,300 shares, the short-interest ratio is presently 8.8 days. Currently, 5.6% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Consolidated Communications in a research note on Saturday, July 27th. They issued a “sell” rating for the company.

Hedge Funds Weigh In On Consolidated Communications

A number of hedge funds have recently modified their holdings of the business. Gabelli Funds LLC increased its position in shares of Consolidated Communications by 2,427.1% during the first quarter. Gabelli Funds LLC now owns 379,061 shares of the utilities provider’s stock valued at $1,638,000 after acquiring an additional 364,061 shares during the last quarter. Private Advisor Group LLC lifted its stake 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 purchasing an additional 596,244 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Consolidated Communications during the fourth quarter worth $2,103,000. Gardner Lewis Asset Management L P purchased a new stake in shares of Consolidated Communications in the 2nd quarter valued at $2,247,000. Finally, PenderFund Capital Management Ltd. acquired a new position in Consolidated Communications during the 4th quarter worth about $388,000. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Communications Stock Performance

CNSL stock remained flat at $4.64 during trading on Tuesday. 198,629 shares of the company’s stock were exchanged, compared to its average volume of 583,157. The stock has a 50-day simple moving average of $4.58 and a 200 day simple moving average of $4.43. Consolidated Communications has a one year low of $3.28 and a one year high of $4.65. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 7.51. The stock has a market cap of $549.52 million, a price-to-earnings ratio of -1.79 and a beta of 0.98.

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

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.