Russell Investments Group Ltd. takes $220,000 stake in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) | Panda Anku


Russell Investments Group Ltd. reduced its position in shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL – Get Rating) by 8.5% in the first quarter, HoldingsChannel reports. The fund owned 37,577 shares of the utility company after selling 3,488 shares during the period. The holdings of Russell Investments Group Ltd. in Consolidated Communications was worth $220,000 at the end of the last reporting period.

Several other hedge funds have recently changed their holdings in CNSL. Searchlight Capital Partners LP increased its stake in Consolidated Communications by 519.2% during the fourth quarter. Searchlight Capital Partners LP now owns 39,338,753 shares of the utility worth $3,834,742,000 after purchasing an additional 32,985,911 shares during the period. Wildcat Capital Management LLC increased its stake in Consolidated Communications by 13.8% during the fourth quarter. Wildcat Capital Management LLC now owns 2,465,803 shares of the utility company’s stock valued at $18,444,000 after purchasing an additional 298,820 shares during the period. Mountaineer Partners Management LLC acquired a new Consolidated Communications position valued at approximately $6,208,000 during the fourth quarter. Martin & Co. Inc. TN increased its holding in Consolidated Communications by 5.4% during the first quarter. Martin & Co. Inc. TN now owns 333,097 shares of the utility worth $1,965,000 after purchasing an additional 17,023 shares during the period. Finally, during the first quarter, Assenagon Asset Management SA acquired a new position in Consolidated Communications valued at approximately $1,856,000. Institutional investors and hedge funds own 93.88% of the company’s shares.

Wall Street analyst ponders

Several research analysts have commented on the company. Citigroup downgraded Consolidated Communications from a “neutral” rating to a “sell” rating and set a price target of $5.00 for the stock. in a report on Thursday, July 7th. Wells Fargo & Company raised its price target on Consolidated Communications to $7.00 from $6.00 and gave the company an “equal weight” rating in a research note on Thursday, August 4. StockNews.com downgraded Consolidated Communications from a “hold” rating to a “sell” rating in a research note on Monday, July 18. Finally, TheStreet downgraded Consolidated Communications from a “c-” rating to a “d+” rating in a research note on Friday, May 6th.

Shares in consolidated communications down 1.6%

NASDAQ:CNSL shares opened at $5.98 on Wednesday. The company has a market cap of $690.07 million, a price to earnings ratio of -5.20 and a beta of 0.90. The company has a gearing ratio of 4.98, a current ratio of 1.07 and a quick ratio of 1.07. The company’s 50-day moving average is $6.82 and its 200-day moving average is $6.54. Consolidated Communications Holdings, Inc. has a 1 year low of $4.51 and a 1 year high of $9.70.

Consolidated Communications (NASDAQ:CNSL – Get Rating) last reported earnings results on Tuesday, August 2nd. The utility reported earnings per share of $0.01 for the quarter, beating analyst consensus estimates of ($0.02) by $0.03. Consolidated Communications had a positive return on equity of 6.08% and a negative net margin of 8.64%.

About consolidated communication

(received rating)

Consolidated Communications Holdings, Inc, together with its subsidiaries, provides broadband and business communications solutions to consumer, commercial and carrier channels throughout the United States. It offers high-speed broadband Internet access and Voice over Internet Protocol (VoIP) telephone services; commercial data connectivity services in various markets, including Ethernet services, private line data services, software-defined wide area networks, and multi-protocol label switching services; network services; cloud-based services; data center and disaster recovery solutions; and wholesale services for regional and national exchanges and wireless carriers, which include cellular backhaul and other fiber transport solutions.

Selected Stories

Want to see what other hedge funds are holding CNSL? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Consolidated Communications Holdings, Inc. (NASDAQ:CNSL – Get Rating).

Institutional Ownership by Quarter for Consolidated Communications (NASDAQ:CNSL)



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