Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Sees Large Growth in Short Interest

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 3,290,000 shares, a growth of 9.7% from the March 15th total of 3,000,000 shares. Based on an average daily trading volume, of 732,500 shares, the days-to-cover ratio is presently 4.5 days. Approximately 4.5% of the company’s stock are short sold.

Consolidated Communications Stock Performance

NASDAQ CNSL opened at $4.28 on Wednesday. The stock’s 50 day moving average price is $4.31 and its two-hundred day moving average price is $4.25. The company has a debt-to-equity ratio of 5.25, a quick ratio of 0.81 and a current ratio of 0.81. Consolidated Communications has a 52 week low of $2.93 and a 52 week high of $4.65.

Consolidated Communications (NASDAQ:CNSL) last released its 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.

Institutional Investors Weigh In On Consolidated Communications

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in shares of Consolidated Communications by 7.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 453,048 shares of the utilities provider’s stock worth $1,971,000 after purchasing an additional 31,811 shares in the last quarter. Barclays PLC raised its stake in shares of Consolidated Communications by 235.6% during the 4th quarter. Barclays PLC now owns 120,729 shares of the utilities provider’s stock worth $525,000 after purchasing an additional 84,756 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of Consolidated Communications during the 4th quarter worth approximately $94,000. Prelude Capital Management LLC acquired a new position in shares of Consolidated Communications during the 4th quarter worth approximately $1,074,000. Finally, Public Sector Pension Investment Board increased its holdings in shares of Consolidated Communications by 2.4% during the 4th quarter. Public Sector Pension Investment Board now owns 170,465 shares of the utilities provider’s stock worth $742,000 after acquiring an additional 4,071 shares during the last quarter. Institutional investors own 79.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Consolidated Communications in a research note on Sunday. 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.