Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Sees Significant Decline in Short Interest

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 3,680,000 shares, a decline of 14.2% from the September 15th total of 4,290,000 shares. Based on an average trading volume of 458,200 shares, the days-to-cover ratio is currently 8.0 days. Currently, 4.8% of the shares of the company are short sold.

Consolidated Communications Price Performance

Shares of NASDAQ:CNSL opened at $4.63 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 7.51. The stock has a market capitalization of $548.33 million, a PE ratio of -1.79 and a beta of 0.97. The firm’s 50 day moving average price is $4.60 and its 200-day moving average price is $4.45. Consolidated Communications has a twelve month low of $4.01 and a twelve month high of $4.65.

Consolidated Communications (NASDAQ:CNSL) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported ($0.39) earnings per share for the quarter. The business had revenue of $268.71 million during the quarter. Consolidated Communications had a negative return on equity of 25.00% and a negative net margin of 17.74%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Consolidated Communications in a research report on Saturday, July 27th. They issued a “sell” rating for the company.

Hedge Funds Weigh In On Consolidated Communications

A number of institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC purchased a new stake in Consolidated Communications in the first quarter worth about $53,000. Susquehanna Fundamental Investments LLC bought a new stake in Consolidated Communications during the 1st quarter worth approximately $83,000. Gamco Investors INC. ET AL purchased a new position in Consolidated Communications during the first quarter valued at approximately $110,000. Rather & Kittrell Inc. bought a new position in shares of Consolidated Communications in the second quarter worth approximately $112,000. Finally, AQR Capital Management LLC raised its position in shares of Consolidated Communications by 22.1% during the 2nd quarter. AQR Capital Management LLC now owns 28,017 shares of the utilities provider’s stock valued at $123,000 after purchasing an additional 5,074 shares during the period. 79.98% of the stock is owned by institutional investors.

Consolidated Communications Company Profile

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.