Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Stock Position Trimmed by SG Americas Securities LLC

SG Americas Securities LLC cut its position in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL – Get Rating) by 22.4% during the 1st quarter, HoldingsChannel reports. The firm owned 77,170 shares of the utilities provider’s stock after selling 22,317 shares during the quarter. SG Americas Securities LLC’s holdings in Consolidated Communications were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CNSL. Searchlight Capital Partners L.P. raised its position in shares of Consolidated Communications by 519.2% during the 4th quarter. Searchlight Capital Partners L.P. now owns 39,338,753 shares of the utilities provider’s stock worth $3,834,742,000 after buying an additional 32,985,911 shares in the last quarter. Mountaineer Partners Management LLC bought a new stake in shares of Consolidated Communications during the 4th quarter worth about $6,208,000. Assenagon Asset Management S.A. bought a new stake in shares of Consolidated Communications during the 1st quarter worth about $1,856,000. Wildcat Capital Management LLC grew its stake in shares of Consolidated Communications by 13.8% in the 4th quarter. Wildcat Capital Management LLC now owns 2,465,803 shares of the utilities provider’s stock worth $18,444,000 after purchasing an additional 298,820 shares during the last quarter. Finally, Yousif Capital Management LLC acquired a new position in shares of Consolidated Communications in the 4th quarter worth approximately $495,000. 93.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CNSL has been the topic of several recent research reports. StockNews.com cut shares of Consolidated Communications from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Citigroup cut shares of Consolidated Communications from a “neutral” rating to a “sell” rating and set a $5.00 price objective on the stock. in a research note on Thursday, July 7th. Wells Fargo & Company lifted their price objective on shares of Consolidated Communications from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, TheStreet cut shares of Consolidated Communications from a “c-” rating to a “d+” rating in a research note on Friday, May 6th.

Consolidated Communications Stock Performance

Consolidated Communications stock opened at $7.08 on Friday. The firm’s 50 day simple moving average is $7.04 and its 200-day simple moving average is $6.58. The company has a market cap of $817.00 million, a P/E ratio of -6.16 and a beta of 0.89. The company has a debt-to-equity ratio of 4.92, a current ratio of 1.44 and a quick ratio of 1.44. Consolidated Communications Holdings, Inc. has a fifty-two week low of $4.51 and a fifty-two week high of $9.70.

Consolidated Communications (NASDAQ:CNSL – Get Rating) last released its earnings results on Tuesday, August 2nd. The utilities provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. Consolidated Communications had a negative net margin of 8.64% and a positive return on equity of 5.97%.

Consolidated Communications Company Profile

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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 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; data center and disaster recovery solutions; and wholesale services to regional and national interexchange, and wireless carriers comprising cellular backhaul and other fiber transport solutions.

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