Short Interest in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Decreases By 8.5%

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) saw a significant decline in short interest in September. As of September 15th, there was short interest totalling 4,290,000 shares, a decline of 8.5% from the August 31st total of 4,690,000 shares. Based on an average daily trading volume, of 485,300 shares, the short-interest ratio is currently 8.8 days. Currently, 5.6% of the shares of the company are short sold.

Institutional Investors Weigh In On Consolidated Communications

Several institutional investors have recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of Consolidated Communications in the first quarter valued at approximately $53,000. Susquehanna Fundamental Investments LLC purchased a new position in Consolidated Communications in the 1st quarter valued at $83,000. Rather & Kittrell Inc. acquired a new stake in Consolidated Communications during the 2nd quarter worth $112,000. Gamco Investors INC. ET AL purchased a new stake in shares of Consolidated Communications during the first quarter worth $110,000. Finally, AQR Capital Management LLC lifted its stake in shares of Consolidated Communications by 22.1% in the second quarter. AQR Capital Management LLC now owns 28,017 shares of the utilities provider’s stock worth $123,000 after buying an additional 5,074 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Consolidated Communications in a research report on Saturday, July 27th. They set a “sell” rating on the stock.

Consolidated Communications Price Performance

Shares of CNSL stock remained flat at $4.64 during trading hours on Tuesday. The stock had a trading volume of 198,629 shares, compared to its average volume of 583,157. Consolidated Communications has a twelve month low of $3.28 and a twelve month high of $4.65. The company has a market capitalization of $549.52 million, a price-to-earnings ratio of -1.79 and a beta of 0.98. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 7.51. The business’s fifty day moving average price is $4.58 and its 200 day moving average price is $4.43.

Consolidated Communications (NASDAQ:CNSL) last posted its quarterly earnings data on Tuesday, August 6th. The utilities provider reported ($0.39) earnings per share for the quarter. Consolidated Communications had a negative return on equity of 25.00% and a negative net margin of 17.74%. The company had revenue of $268.71 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.