Susquehanna Fundamental Investments LLC Trims Stake in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)

Susquehanna Fundamental Investments LLC lessened its stake in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 29.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,570 shares of the utilities provider’s stock after selling 5,709 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Consolidated Communications were worth $60,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Consolidated Communications by 14.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,657 shares of the utilities provider’s stock valued at $144,000 after purchasing an additional 4,061 shares during the period. AQR Capital Management LLC raised its position 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 acquiring an additional 5,074 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Consolidated Communications by 26.9% during the 2nd quarter. Squarepoint Ops LLC now owns 335,053 shares of the utilities provider’s stock worth $1,474,000 after acquiring an additional 71,004 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of Consolidated Communications by 7.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 182,520 shares of the utilities provider’s stock valued at $803,000 after acquiring an additional 12,055 shares during the period. Finally, Gabelli Funds LLC increased its stake in shares of Consolidated Communications by 36.9% in the 2nd quarter. Gabelli Funds LLC now owns 518,795 shares of the utilities provider’s stock valued at $2,283,000 after purchasing an additional 139,734 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Wall Street Analyst Weigh In

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

Consolidated Communications Price Performance

Consolidated Communications stock opened at $4.63 on Friday. The stock has a market capitalization of $548.33 million, a P/E ratio of -1.79 and a beta of 0.97. The company’s fifty day moving average price is $4.59 and its 200 day moving average price is $4.43. The company has a debt-to-equity ratio of 7.51, a quick ratio of 0.72 and a current ratio of 0.72. Consolidated Communications Holdings, Inc. has a 1 year low of $3.42 and a 1 year high of $4.65.

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

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.