Consolidated Communications (NASDAQ:CNSL) Sees Strong Trading Volume – Still a Buy?

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) shares saw unusually-strong trading volume on Tuesday . Approximately 2,631,641 shares were traded during trading, an increase of 365% from the previous session’s volume of 565,620 shares.The stock last traded at $4.70 and had previously closed at $4.70.

Consolidated Communications Price Performance

The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 10.13. The firm has a market cap of $554.43 million, a price-to-earnings ratio of -2.28 and a beta of 0.98. The company has a 50 day moving average of $4.65 and a 200 day moving average of $4.56.

Institutional Investors Weigh In On Consolidated Communications

A number of hedge funds have recently modified their holdings of CNSL. Gardner Lewis Asset Management L P bought a new position in Consolidated Communications in the second quarter valued at approximately $2,247,000. Trium Capital LLP acquired a new stake in shares of Consolidated Communications during the second quarter worth $680,000. Wolverine Asset Management LLC lifted its position in Consolidated Communications by 91.4% in the 2nd quarter. Wolverine Asset Management LLC now owns 308,682 shares of the utilities provider’s stock valued at $1,358,000 after acquiring an additional 147,416 shares in the last quarter. Intech Investment Management LLC acquired a new position in Consolidated Communications in the 2nd quarter worth $192,000. Finally, SG Americas Securities LLC increased its holdings in Consolidated Communications by 76.5% during the 3rd quarter. SG Americas Securities LLC now owns 42,966 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 18,626 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

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.