Ballast Asset Management LP Acquires New Stake in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

Ballast Asset Management LP bought a new position in shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 30,464 shares of the company’s stock, valued at approximately $727,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCSI. Meeder Asset Management Inc. increased its position in Consensus Cloud Solutions by 3.1% during the 4th quarter. Meeder Asset Management Inc. now owns 27,645 shares of the company’s stock valued at $660,000 after purchasing an additional 839 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Consensus Cloud Solutions by 235.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 72,393 shares of the company’s stock worth $1,727,000 after buying an additional 50,795 shares during the period. Brandywine Global Investment Management LLC bought a new position in Consensus Cloud Solutions during the fourth quarter worth $1,563,000. Arrowstreet Capital Limited Partnership lifted its holdings in Consensus Cloud Solutions by 14.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 226,320 shares of the company’s stock valued at $5,400,000 after buying an additional 28,569 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in Consensus Cloud Solutions during the fourth quarter valued at $210,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on CCSI. Citigroup lifted their price objective on Consensus Cloud Solutions from $19.00 to $20.00 and gave the stock a “sell” rating in a research report on Friday, January 17th. Oppenheimer raised their target price on Consensus Cloud Solutions from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Consensus Cloud Solutions currently has an average rating of “Hold” and a consensus target price of $27.40.

Consensus Cloud Solutions Trading Down 0.5 %

CCSI opened at $23.08 on Tuesday. The company has a fifty day moving average price of $26.11 and a two-hundred day moving average price of $24.46. Consensus Cloud Solutions, Inc. has a 1-year low of $11.62 and a 1-year high of $32.10. The company has a market cap of $450.66 million, a P/E ratio of 5.00 and a beta of 1.45.

Consensus Cloud Solutions (NASDAQ:CCSI) last issued its earnings results on Wednesday, February 19th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.10). The firm had revenue of $86.98 million during the quarter, compared to the consensus estimate of $85.07 million. Consensus Cloud Solutions had a net margin of 25.52% and a negative return on equity of 83.93%. On average, research analysts forecast that Consensus Cloud Solutions, Inc. will post 5.17 EPS for the current fiscal year.

About Consensus Cloud Solutions

Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. The company offers eFax Corporate, a digital cloud-fax technology; Unite, a single platform that allows the user to choose between various protocols to send and receive healthcare information and can integrate into an existing electronic health record system or stand-alone if no EHR is present.