Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Sees Large Growth in Short Interest

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 4,420,000 shares, an increase 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 currently 6.0 days. Currently, 5.8% of the company’s stock are short sold.

Hedge Funds Weigh In On Consolidated Communications

Several large investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in Consolidated Communications in the third quarter worth $47,000. Quantinno Capital Management LP bought a new position in Consolidated Communications in the 3rd quarter worth about $53,000. Quantbot Technologies LP purchased a new stake in Consolidated Communications during the 3rd quarter valued at about $55,000. AQR Capital Management LLC raised its holdings in Consolidated Communications by 22.1% in the second quarter. AQR Capital Management LLC now owns 28,017 shares of the utilities provider’s stock worth $123,000 after buying an additional 5,074 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Consolidated Communications by 14.2% during the second quarter. The Manufacturers Life Insurance Company now owns 32,657 shares of the utilities provider’s stock valued at $144,000 after buying an additional 4,061 shares during the last quarter. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Communications Stock Up 0.2 %

NASDAQ CNSL traded up $0.01 during trading hours on Thursday, reaching $4.72. 13,550,700 shares of the company’s stock traded hands, compared to its average volume of 684,254. Consolidated Communications has a 52-week low of $4.18 and a 52-week high of $4.75. The company has a debt-to-equity ratio of 10.13, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a 50-day simple moving average of $4.67 and a 200 day simple moving average of $4.58. The firm has a market cap of $559.17 million, a PE ratio of -2.30 and a beta of 0.98.

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.