Consolidated Communications (NASDAQ:CNSL) Sees Unusually-High Trading Volume

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) shares saw unusually-strong trading volume on Monday . Approximately 1,304,595 shares changed hands during mid-day trading, an increase of 77% from the previous session’s volume of 737,388 shares.The stock last traded at $4.23 and had previously closed at $4.27.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Consolidated Communications in a report on Monday. They issued a “sell” rating for the company.

Consolidated Communications Stock Up 0.5 %

The firm has a fifty day simple moving average of $4.30 and a 200 day simple moving average of $4.28. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.25.

Consolidated Communications (NASDAQ:CNSL) last posted its quarterly earnings results on Tuesday, March 5th. The utilities provider reported ($0.27) EPS for the quarter. Consolidated Communications had a negative net margin of 22.53% and a negative return on equity of 16.89%. The firm had revenue of $275.18 million during the quarter.

Hedge Funds Weigh In On Consolidated Communications

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Consolidated Communications by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,269,494 shares of the utilities provider’s stock worth $21,442,000 after buying an additional 128,005 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Consolidated Communications by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,374,522 shares of the utilities provider’s stock worth $10,329,000 after buying an additional 73,582 shares in the last quarter. Private Advisor Group LLC increased its holdings in Consolidated Communications by 4.6% during the 3rd quarter. Private Advisor Group LLC now owns 1,980,544 shares of the utilities provider’s stock valued at $6,773,000 after purchasing an additional 87,900 shares in the last quarter. Ballentine Partners LLC bought a new position in Consolidated Communications in the 4th quarter valued at $6,871,000. Finally, Hsbc Holdings PLC bought a new position in Consolidated Communications in the 4th quarter valued at $2,103,000. 79.98% of the stock is owned by institutional investors and hedge funds.

About Consolidated Communications

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.