Consolidated Communications (NASDAQ:CNSL) Shares Cross Above 200 Day Moving Average – Here’s Why

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.61 and traded as high as $4.75. Consolidated Communications shares last traded at $4.72, with a volume of 13,550,700 shares traded.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Consolidated Communications in a research note on Wednesday. They issued a “sell” rating on the stock.

Consolidated Communications Stock Up 0.2 %

The firm has a fifty day simple moving average of $4.68 and a 200-day simple moving average of $4.61. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $559.17 million, a price-to-earnings ratio of -2.30 and a beta of 0.98.

Hedge Funds Weigh In On Consolidated Communications

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Consolidated Communications by 29.5% during the third quarter. JPMorgan Chase & Co. now owns 238,029 shares of the utilities provider’s stock worth $1,104,000 after purchasing an additional 54,230 shares during the period. 272 Capital LP bought a new stake in shares of Consolidated Communications during the third quarter worth about $297,000. Virtu Financial LLC bought a new stake in Consolidated Communications during the 3rd quarter worth approximately $47,000. Barclays PLC grew its position in shares of Consolidated Communications by 359.7% in the 3rd quarter. Barclays PLC now owns 128,059 shares of the utilities provider’s stock valued at $594,000 after buying an additional 100,201 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Consolidated Communications by 154.9% in the 3rd quarter. Jane Street Group LLC now owns 276,771 shares of the utilities provider’s stock worth $1,284,000 after purchasing an additional 168,210 shares during the period. Institutional investors own 79.98% of the company’s stock.

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.