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

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL - Get Free Report) was the recipient of a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 4,320,000 shares, a decline of 9.8% from the July 31st total of 4,790,000 shares. Based on an average trading volume of 508,900 shares, the short-interest ratio is currently 8.5 days. Currently, 5.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Consolidated Communications in a research note on Saturday, July 27th. They issued a "sell" rating on the stock.

Consolidated Communications Stock Performance

Shares of NASDAQ CNSL traded up $0.02 during mid-day trading on Friday, hitting $4.57. The company had a trading volume of 217,008 shares, compared to its average volume of 352,520. Consolidated Communications has a 12 month low of $3.28 and a 12 month high of $4.65. The firm has a market cap of $541.45 million, a P/E ratio of -1.76 and a beta of 1.00. The business's 50-day simple moving average is $4.50 and its 200-day simple moving average is $4.38. The company has a debt-to-equity ratio of 7.51, a current ratio of 0.72 and a quick ratio of 0.72.

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

Institutional Trading of Consolidated Communications

Several institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in shares of Consolidated Communications during the first quarter worth approximately $53,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Consolidated Communications by 39.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,982 shares of the utilities provider's stock worth $74,000 after buying an additional 4,803 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Consolidated Communications by 22.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 17,922 shares of the utilities provider's stock valued at $78,000 after acquiring an additional 3,243 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Consolidated Communications in the first quarter worth about $83,000. Finally, Rather & Kittrell Inc. acquired a new position in shares of Consolidated Communications during the second quarter worth approximately $112,000. Institutional investors and hedge funds own 79.98% of the company's stock.

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.

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