Consolidated Communications (NASDAQ:CNSL) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Consolidated Communications (NASDAQ:CNSL) in a research report sent to investors on Tuesday morning. The brokerage issued a sell rating on the utilities provider’s stock.

Consolidated Communications Price Performance

Shares of NASDAQ:CNSL opened at $4.72 on Tuesday. Consolidated Communications has a 52 week low of $4.18 and a 52 week high of $4.75. The company has a 50-day moving average price of $4.67 and a 200 day moving average price of $4.60. The company has a market cap of $559.17 million, a P/E ratio of -2.30 and a beta of 0.98. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 10.13.

Institutional Trading of Consolidated Communications

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in Consolidated Communications by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,876,311 shares of the utilities provider’s stock worth $17,056,000 after acquiring an additional 48,609 shares in the last quarter. State Street Corp lifted its stake in shares of Consolidated Communications by 2.5% in the third 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. Hsbc Holdings PLC boosted its holdings in Consolidated Communications by 27.9% during the second quarter. Hsbc Holdings PLC now owns 619,494 shares of the utilities provider’s stock worth $2,723,000 after buying an additional 135,035 shares in the last quarter. Bank of New York Mellon Corp grew its position in Consolidated Communications by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 604,060 shares of the utilities provider’s stock worth $2,658,000 after buying an additional 16,217 shares during the period. Finally, FMR LLC increased its holdings in Consolidated Communications by 26.8% in the third quarter. FMR LLC now owns 565,450 shares of the utilities provider’s stock valued at $2,624,000 after buying an additional 119,575 shares in the last quarter. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

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.