SageView Advisory Group LLC Cuts Stake in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)

SageView Advisory Group LLC reduced its position in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 46.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,605 shares of the utilities provider’s stock after selling 16,293 shares during the quarter. SageView Advisory Group LLC’s holdings in Consolidated Communications were worth $81,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CNSL. Ballentine Partners LLC purchased a new stake in shares of Consolidated Communications during the fourth quarter valued at $6,871,000. Hsbc Holdings PLC purchased a new stake in Consolidated Communications in the fourth quarter valued at $2,103,000. Highbridge Capital Management LLC purchased a new stake in Consolidated Communications in the fourth quarter valued at $1,343,000. Olympiad Research LP purchased a new stake in Consolidated Communications in the fourth quarter valued at $1,005,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Consolidated Communications by 7.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,300,940 shares of the utilities provider’s stock valued at $7,869,000 after purchasing an additional 153,318 shares during the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Consolidated Communications in a research report on Monday, June 17th. They issued a “sell” rating for the company.

Consolidated Communications Stock Performance

Shares of Consolidated Communications stock opened at $4.35 on Friday. Consolidated Communications Holdings, Inc. has a fifty-two week low of $2.93 and a fifty-two week high of $4.65. The company has a debt-to-equity ratio of 6.09, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a 50-day simple moving average of $4.32 and a two-hundred day simple moving average of $4.35. The company has a market cap of $515.17 million, a P/E ratio of -1.68 and a beta of 1.07.

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