Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Short Interest Update

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 4,180,000 shares, a growth of 11.8% from the May 31st total of 3,740,000 shares. Currently, 5.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 507,600 shares, the short-interest ratio is currently 8.2 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Consolidated Communications in a report on Wednesday. They set a “sell” rating for the company.

Hedge Funds Weigh In On Consolidated Communications

A number of institutional investors and hedge funds have recently bought and sold shares of CNSL. Ballentine Partners LLC acquired a new position in Consolidated Communications in the 4th quarter worth about $6,871,000. Private Advisor Group LLC grew its position in shares of Consolidated Communications by 54.5% in the 1st quarter. Private Advisor Group LLC now owns 1,689,559 shares of the utilities provider’s stock valued at $7,299,000 after buying an additional 596,244 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Consolidated Communications in the 4th quarter valued at about $2,103,000. Gabelli Funds LLC grew its position in shares of Consolidated Communications by 2,427.1% in the 1st quarter. Gabelli Funds LLC now owns 379,061 shares of the utilities provider’s stock valued at $1,638,000 after buying an additional 364,061 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Consolidated Communications in the 1st quarter valued at about $1,488,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Consolidated Communications Price Performance

CNSL traded up $0.01 on Wednesday, reaching $4.40. The stock had a trading volume of 65,226 shares, compared to its average volume of 643,106. Consolidated Communications has a fifty-two week low of $2.93 and a fifty-two week high of $4.65. The firm has a 50-day moving average of $4.34 and a 200-day moving average of $4.35. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 6.09. The company has a market capitalization of $521.09 million, a price-to-earnings ratio of -1.69 and a beta of 1.00.

Consolidated Communications (NASDAQ:CNSL) last issued its earnings results on Tuesday, May 7th. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter. Consolidated Communications had a negative return on equity of 19.47% and a negative net margin of 22.42%. The firm had revenue of $274.68 million during the quarter.

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.