Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Short Interest Update

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) was the target of a large drop in short interest in the month of July. As of July 14th, there was short interest totalling 4,232,236 shares, a drop of 36.3% from the June 30th total of 6,647,980 shares. Based on an average trading volume of 1,486,482 shares, the short-interest ratio is currently 2.8 days. Currently, 8.5% of the company’s shares are sold short.

In other Consolidated Communications Holdings news, Director Robert J. Currey bought 5,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was acquired at an average cost of $19.33 per share, with a total value of $96,650.00. Following the purchase, the director now owns 48,495 shares in the company, valued at $937,408.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu KCG Holdings LLC acquired a new position in shares of Consolidated Communications Holdings during the second quarter worth about $363,000. Citadel Advisors LLC increased its position in shares of Consolidated Communications Holdings by 1,855.0% in the second quarter. Citadel Advisors LLC now owns 245,705 shares of the utilities provider’s stock worth $5,275,000 after buying an additional 259,705 shares during the period. Advisor Group Inc. increased its position in shares of Consolidated Communications Holdings by 28.7% in the second quarter. Advisor Group Inc. now owns 8,268 shares of the utilities provider’s stock worth $167,000 after buying an additional 1,846 shares during the period. Quantbot Technologies LP acquired a new position in shares of Consolidated Communications Holdings during the second quarter worth about $399,000. Finally, California Public Employees Retirement System increased its position in shares of Consolidated Communications Holdings by 1.5% in the second quarter. California Public Employees Retirement System now owns 95,789 shares of the utilities provider’s stock worth $2,057,000 after buying an additional 1,400 shares during the period. Hedge funds and other institutional investors own 67.14% of the company’s stock.

Consolidated Communications Holdings (NASDAQ:CNSL) opened at 19.26 on Friday. The company has a market capitalization of $1.36 billion, a PE ratio of 6420.00 and a beta of 0.91. The stock’s 50 day moving average is $19.37 and its 200 day moving average is $22.10. Consolidated Communications Holdings has a 52 week low of $17.41 and a 52 week high of $30.23.

Consolidated Communications Holdings (NASDAQ:CNSL) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $169.95 million during the quarter, compared to the consensus estimate of $169.69 million. Consolidated Communications Holdings had a return on equity of 15.30% and a net margin of 0.09%. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. Analysts predict that Consolidated Communications Holdings will post $0.61 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Sunday, October 15th will be paid a $0.3874 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.55 dividend on an annualized basis and a yield of 8.05%. Consolidated Communications Holdings’s dividend payout ratio (DPR) is presently 15,500.00%.

CNSL has been the subject of a number of research reports. BidaskClub raised Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. ValuEngine raised Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. TheStreet cut Consolidated Communications Holdings from a “c” rating to a “d+” rating in a research note on Thursday, August 3rd. Finally, Cowen and Company reissued a “hold” rating and set a $22.00 target price on shares of Consolidated Communications Holdings in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $25.60.

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Consolidated Communications Holdings Company Profile

Consolidated Communications Holdings, Inc is a holding company with operating subsidiaries that provide integrated communications services in consumer, commercial and carrier channels in California, Illinois, Iowa, Kansas, Minnesota, Missouri, North Dakota, Pennsylvania, South Dakota, Texas and Wisconsin.

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