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

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 4,490,000 shares, an increase of 6.7% from the June 30th total of 4,210,000 shares. Based on an average daily trading volume, of 519,100 shares, the short-interest ratio is currently 8.6 days. Currently, 5.9% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Consolidated Communications in a report on Saturday, July 27th. They set a “sell” rating for the company.

Consolidated Communications Stock Performance

Shares of CNSL stock remained flat at $4.60 during midday trading on Thursday. 425,915 shares of the company traded hands, compared to its average volume of 641,565. The stock has a market cap of $544.78 million, a price-to-earnings ratio of -1.77 and a beta of 1.00. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 6.09. Consolidated Communications has a 1-year low of $3.28 and a 1-year high of $4.65. The firm has a 50 day moving average price of $4.41 and a 200 day moving average price of $4.36.

Consolidated Communications (NASDAQ:CNSL) last announced its quarterly earnings data 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 for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Ballentine Partners LLC acquired a new stake in shares of Consolidated Communications in the 4th quarter valued at $6,871,000. Private Advisor Group LLC boosted its stake in Consolidated Communications by 54.5% in the first 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 in the last quarter. Hsbc Holdings PLC bought a new position in Consolidated Communications in the fourth quarter valued at about $2,103,000. Gabelli Funds LLC raised its stake in Consolidated Communications by 2,427.1% during the first quarter. Gabelli Funds LLC now owns 379,061 shares of the utilities provider’s stock worth $1,638,000 after acquiring an additional 364,061 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Consolidated Communications in the first quarter worth about $1,488,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.

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.