Great West Life Assurance Co. Can purchased a new stake in shares of Consolidated Communications Holdings Inc (NASDAQ:CNSL) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 90,120 shares of the utilities provider’s stock, valued at approximately $346,000. Great West Life Assurance Co. Can owned approximately 0.13% of Consolidated Communications as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. California Public Employees Retirement System raised its stake in Consolidated Communications by 11.8% in the third quarter. California Public Employees Retirement System now owns 127,443 shares of the utilities provider’s stock worth $607,000 after buying an additional 13,406 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Consolidated Communications in the third quarter worth approximately $131,000. SG Americas Securities LLC raised its stake in Consolidated Communications by 11.3% in the third quarter. SG Americas Securities LLC now owns 30,582 shares of the utilities provider’s stock worth $146,000 after buying an additional 3,110 shares in the last quarter. State Street Corp raised its stake in Consolidated Communications by 5.9% in the third quarter. State Street Corp now owns 2,202,388 shares of the utilities provider’s stock worth $10,483,000 after buying an additional 123,007 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Consolidated Communications by 26.9% in the third quarter. Public Employees Retirement System of Ohio now owns 15,899 shares of the utilities provider’s stock worth $76,000 after buying an additional 3,371 shares in the last quarter. 78.32% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:CNSL opened at $4.38 on Thursday. The company has a market capitalization of $313.00 million, a price-to-earnings ratio of -15.10 and a beta of 0.65. Consolidated Communications Holdings Inc has a 52 week low of $3.24 and a 52 week high of $12.10. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.48. The firm has a 50 day moving average of $5.58 and a 200 day moving average of $4.45.
Consolidated Communications (NASDAQ:CNSL) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $331.04 million during the quarter. Consolidated Communications had a negative net margin of 1.53% and a negative return on equity of 1.25%.
Separately, BidaskClub downgraded shares of Consolidated Communications from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Consolidated Communications currently has a consensus rating of “Hold” and an average target price of $5.75.
About Consolidated Communications
Consolidated Communications Holdings, Inc, through its subsidiaries, provides telecommunications services to business and residential customers in the United States. It offers high-speed broadband Internet access and voice over Internet protocol (VoIP) phone services to small, medium, and large business customers; commercial data connectivity services in select markets, including a portfolio of Ethernet services, software defined wide area network, multi-protocol label switching, and private line services; and wholesale services to regional and national interexchange and wireless carriers, including cellular backhaul, dark fiber, and other fiber transport solutions.
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