JPMorgan Chase & Co. Buys 54,230 Shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)

JPMorgan Chase & Co. lifted its position in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 29.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 238,029 shares of the utilities provider’s stock after purchasing an additional 54,230 shares during the quarter. JPMorgan Chase & Co. owned 0.20% of Consolidated Communications worth $1,104,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. 272 Capital LP acquired a new position in Consolidated Communications in the third quarter valued at about $297,000. Virtu Financial LLC acquired a new position in shares of Consolidated Communications in the 3rd quarter worth approximately $47,000. Barclays PLC grew its position in Consolidated Communications by 359.7% during the 3rd quarter. Barclays PLC now owns 128,059 shares of the utilities provider’s stock worth $594,000 after acquiring an additional 100,201 shares during the last quarter. Jane Street Group LLC increased its holdings in Consolidated Communications by 154.9% during the 3rd quarter. Jane Street Group LLC now owns 276,771 shares of the utilities provider’s stock valued at $1,284,000 after purchasing an additional 168,210 shares in the last quarter. Finally, State Street Corp raised its position in Consolidated Communications by 2.5% in the 3rd quarter. State Street Corp now owns 2,948,326 shares of the utilities provider’s stock valued at $13,680,000 after purchasing an additional 71,384 shares during the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Consolidated Communications Trading Up 0.2 %

Shares of NASDAQ CNSL opened at $4.72 on Friday. Consolidated Communications Holdings, Inc. has a 1-year low of $4.18 and a 1-year high of $4.75. The company has a 50-day moving average of $4.69 and a two-hundred day moving average of $4.62. The company has a market cap of $559.18 million, a PE ratio of -2.30 and a beta of 0.98. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 10.13.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Consolidated Communications in a report on Thursday. They set a “sell” rating on the stock.

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.