StockNews.com Begins Coverage on Consolidated Communications (NASDAQ:CNSL)

Equities research analysts at StockNews.com initiated coverage on shares of Consolidated Communications (NASDAQ:CNSL) in a research note issued to investors on Tuesday. The firm set a “sell” rating on the utilities provider’s stock.

Consolidated Communications Price Performance

CNSL opened at $4.72 on Tuesday. Consolidated Communications has a 1 year low of $4.18 and a 1 year high of $4.75. The stock has a 50-day moving average price of $4.68 and a 200-day moving average price of $4.60. The firm has a market cap of $559.17 million, a PE ratio of -2.30 and a beta of 0.98. The company has a debt-to-equity ratio of 10.13, a current ratio of 0.76 and a quick ratio of 0.76.

Hedge Funds Weigh In On Consolidated Communications

A number of hedge funds have recently added to or reduced their stakes in CNSL. Jane Street Group LLC boosted its holdings in shares of Consolidated Communications by 154.9% during the 3rd quarter. Jane Street Group LLC now owns 276,771 shares of the utilities provider’s stock valued at $1,284,000 after acquiring an additional 168,210 shares during the last quarter. State Street Corp boosted its holdings in Consolidated Communications by 2.5% in the third quarter. State Street Corp now owns 2,948,326 shares of the utilities provider’s stock worth $13,680,000 after purchasing an additional 71,384 shares during the last quarter. Gardner Lewis Asset Management L P bought a new stake in Consolidated Communications in the 2nd quarter worth approximately $2,247,000. Barclays PLC raised its stake in Consolidated Communications by 359.7% during the 3rd quarter. Barclays PLC now owns 128,059 shares of the utilities provider’s stock valued at $594,000 after buying an additional 100,201 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Consolidated Communications in the 2nd quarter worth $192,000. 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.