Gardner Lewis Asset Management L P Purchases Shares of 510,681 Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)

Gardner Lewis Asset Management L P bought a new stake in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 510,681 shares of the utilities provider's stock, valued at approximately $2,247,000. Gardner Lewis Asset Management L P owned approximately 0.43% of Consolidated Communications as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of CNSL. Private Advisor Group LLC grew its position in Consolidated Communications by 54.5% in the first quarter. Private Advisor Group LLC now owns 1,689,559 shares of the utilities provider's stock valued at $7,299,000 after acquiring an additional 596,244 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Consolidated Communications during the 4th quarter valued at $2,103,000. Gabelli Funds LLC increased its stake in Consolidated Communications by 2,427.1% during the 1st quarter. Gabelli Funds LLC now owns 379,061 shares of the utilities provider's stock worth $1,638,000 after buying an additional 364,061 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Consolidated Communications in the 1st quarter worth $1,488,000. Finally, Highbridge Capital Management LLC acquired a new position in Consolidated Communications in the 4th quarter worth $1,343,000. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Communications Stock Performance

NASDAQ CNSL remained flat at $4.62 during trading hours on Wednesday. 227,530 shares of the company's stock were exchanged, compared to its average volume of 589,268. The stock has a market capitalization of $547.15 million, a PE ratio of -1.78 and a beta of 0.98. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 7.51. Consolidated Communications Holdings, Inc. has a 12-month low of $3.28 and a 12-month high of $4.65. The stock has a 50 day simple moving average of $4.55 and a 200 day simple moving average of $4.40.

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. Consolidated Communications had a negative net margin of 17.74% and a negative return on equity of 25.00%. The firm had revenue of $268.71 million for the quarter.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Consolidated Communications in a research report on Saturday, July 27th. They issued a "sell" rating on the 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.