Private Management Group Inc. Lowers Stock Position in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)

Private Management Group Inc. cut its position in shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 66.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 288,553 shares of the utilities provider’s stock after selling 580,364 shares during the period. Private Management Group Inc.’s holdings in Consolidated Communications were worth $1,255,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Consolidated Communications by 2.1% during the third quarter. Vanguard Group Inc. now owns 6,269,494 shares of the utilities provider’s stock worth $21,442,000 after buying an additional 128,005 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Consolidated Communications by 7.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,300,940 shares of the utilities provider’s stock worth $7,869,000 after acquiring an additional 153,318 shares during the period. Private Advisor Group LLC raised its position in Consolidated Communications by 4.6% during the third quarter. Private Advisor Group LLC now owns 1,980,544 shares of the utilities provider’s stock worth $6,773,000 after acquiring an additional 87,900 shares during the period. Ballentine Partners LLC acquired a new position in Consolidated Communications during the fourth quarter worth $6,871,000. Finally, Swiss National Bank raised its position in Consolidated Communications by 3.0% during the third quarter. Swiss National Bank now owns 166,647 shares of the utilities provider’s stock worth $570,000 after acquiring an additional 4,800 shares during the period. 79.98% of the stock is owned by hedge funds and other institutional investors.

Consolidated Communications Trading Down 0.2 %

Shares of NASDAQ CNSL traded down $0.01 during mid-day trading on Wednesday, reaching $4.24. The company’s stock had a trading volume of 941,289 shares, compared to its average volume of 762,043. The stock has a 50-day moving average of $4.30 and a two-hundred day moving average of $4.28. The company has a debt-to-equity ratio of 5.25, a current ratio of 0.81 and a quick ratio of 0.81. Consolidated Communications Holdings, Inc. has a 1-year low of $2.93 and a 1-year high of $4.65.

Consolidated Communications (NASDAQ:CNSL) last issued its earnings results on Tuesday, March 5th. The utilities provider reported ($0.27) EPS for the quarter. Consolidated Communications had a negative return on equity of 16.89% and a negative net margin of 22.53%. The firm had revenue of $275.18 million for the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Consolidated Communications in a research report on Monday. They set a “sell” rating for the company.

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.