Consolidated Communications (NASDAQ:CNSL) Hits New 12-Month High – Here’s Why

Shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) reached a new 52-week high on Tuesday . The stock traded as high as $4.72 and last traded at $4.68, with a volume of 549498 shares traded. The stock had previously closed at $4.63.

Consolidated Communications Price Performance

The company has a debt-to-equity ratio of 10.13, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $553.25 million, a PE ratio of -2.28 and a beta of 0.98. The business’s 50 day moving average is $4.63 and its two-hundred day moving average is $4.52.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its position in Consolidated Communications by 14.2% during the second quarter. The Manufacturers Life Insurance Company now owns 32,657 shares of the utilities provider’s stock valued at $144,000 after purchasing an additional 4,061 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Consolidated Communications by 9.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,012 shares of the utilities provider’s stock valued at $230,000 after purchasing an additional 4,535 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Consolidated Communications by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 244,967 shares of the utilities provider’s stock valued at $1,078,000 after buying an additional 5,066 shares in the last quarter. AQR Capital Management LLC lifted its position in Consolidated Communications by 22.1% in the 2nd quarter. AQR Capital Management LLC now owns 28,017 shares of the utilities provider’s stock worth $123,000 after buying an additional 5,074 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Consolidated Communications in the third quarter worth approximately $47,000. 79.98% of the stock is currently owned by hedge funds and other 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.