StockNews.com Begins Coverage on Consolidated Communications (NASDAQ:CNSL)

StockNews.com started coverage on shares of Consolidated Communications (NASDAQ:CNSL) in a research note released on Thursday. The firm issued a sell rating on the utilities provider’s stock.

Consolidated Communications Price Performance

CNSL opened at $4.72 on Thursday. The company has a fifty day moving average price of $4.69 and a two-hundred day moving average price of $4.63. The firm has a market capitalization of $559.18 million, a PE ratio of -2.30 and a beta of 0.98. Consolidated Communications has a 52 week low of $4.18 and a 52 week high of $4.75. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.76 and a current ratio of 0.76.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in Consolidated Communications by 29.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 238,029 shares of the utilities provider’s stock valued at $1,104,000 after acquiring an additional 54,230 shares in the last quarter. 272 Capital LP acquired a new stake in shares of Consolidated Communications in the third quarter valued at approximately $297,000. Virtu Financial LLC bought a new stake in shares of Consolidated Communications in the third quarter worth $47,000. Barclays PLC boosted its holdings in Consolidated Communications by 359.7% during the third quarter. Barclays PLC now owns 128,059 shares of the utilities provider’s stock worth $594,000 after purchasing an additional 100,201 shares during the last quarter. Finally, Jane Street Group LLC grew its position in Consolidated Communications by 154.9% in the third quarter. Jane Street Group LLC now owns 276,771 shares of the utilities provider’s stock valued at $1,284,000 after purchasing an additional 168,210 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors.

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.