Consolidated Communications (NASDAQ:CNSL) Reaches New 12-Month High – Time to Buy?

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $4.65 and last traded at $4.64, with a volume of 208070 shares traded. The stock had previously closed at $4.64.

Wall Street Analyst Weigh In

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

Consolidated Communications Price Performance

The firm has a market cap of $549.75 million, a price-to-earnings ratio of -2.18 and a beta of 0.97. The firm has a 50 day moving average of $4.61 and a 200 day moving average of $4.48. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 7.51.

Consolidated Communications (NASDAQ:CNSL) last issued its earnings results on Tuesday, August 6th. The utilities provider reported ($0.39) earnings per share (EPS) 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.

Institutional Trading of Consolidated Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNSL. Innealta Capital LLC bought a new stake in shares of Consolidated Communications in the 1st quarter worth $53,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Consolidated Communications in the 1st quarter worth approximately $83,000. Gamco Investors INC. ET AL bought a new position in shares of Consolidated Communications in the first quarter valued at approximately $110,000. Rather & Kittrell Inc. purchased a new position in Consolidated Communications in the second quarter worth $112,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Consolidated Communications by 22.1% in the 2nd 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 during the last quarter. 79.98% of the stock is owned by institutional investors.

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.