Wolverine Asset Management LLC Raises Holdings in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)

Wolverine Asset Management LLC boosted its holdings in shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL - Free Report) by 91.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,682 shares of the utilities provider's stock after purchasing an additional 147,416 shares during the period. Wolverine Asset Management LLC owned 0.26% of Consolidated Communications worth $1,358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Consolidated Communications by 39.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,982 shares of the utilities provider's stock valued at $74,000 after acquiring an additional 4,803 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Consolidated Communications by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,374,522 shares of the utilities provider's stock valued at $10,329,000 after purchasing an additional 73,582 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Consolidated Communications by 22.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 17,922 shares of the utilities provider's stock worth $78,000 after buying an additional 3,243 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Consolidated Communications in the fourth quarter valued at approximately $2,103,000. Finally, Olympiad Research LP acquired a new position in shares of Consolidated Communications in the fourth quarter valued at about $1,005,000. Institutional investors and hedge funds own 79.98% of the company's stock.

Consolidated Communications Stock Performance

CNSL traded down $0.02 during midday trading on Thursday, reaching $4.58. The company had a trading volume of 336,772 shares, compared to its average volume of 601,420. The company has a debt-to-equity ratio of 7.51, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market cap of $542.41 million, a PE ratio of -1.78 and a beta of 1.00. The business has a 50-day moving average price of $4.52 and a two-hundred day moving average price of $4.39. Consolidated Communications Holdings, Inc. has a 12-month low of $3.28 and a 12-month high of $4.65.

Consolidated Communications (NASDAQ:CNSL - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported ($0.39) EPS for the quarter. The firm 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%.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Consolidated Communications in a report on Saturday, July 27th. They set a "sell" rating on the stock.

Consolidated Communications 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.