Short Interest in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Grows By 6.8%

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 4,420,000 shares, a growth of 6.8% from the November 30th total of 4,140,000 shares. Based on an average daily volume of 737,600 shares, the short-interest ratio is currently 6.0 days. Currently, 5.8% of the shares of the company are short sold.

Hedge Funds Weigh In On Consolidated Communications

Institutional investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new position in Consolidated Communications during the 3rd quarter worth $47,000. Quantinno Capital Management LP purchased a new stake in Consolidated Communications during the 3rd quarter valued at approximately $53,000. Quantbot Technologies LP acquired a new position in shares of Consolidated Communications in the third quarter valued at approximately $55,000. AQR Capital Management LLC raised its stake in shares of Consolidated Communications by 22.1% during the second quarter. AQR Capital Management LLC now owns 28,017 shares of the utilities provider’s stock worth $123,000 after purchasing an additional 5,074 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Consolidated Communications by 14.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,657 shares of the utilities provider’s stock valued at $144,000 after buying an additional 4,061 shares during the period. 79.98% of the stock is owned by institutional investors and hedge funds.

Consolidated Communications Stock Performance

NASDAQ:CNSL traded up $0.01 during mid-day trading on Thursday, reaching $4.72. 13,550,700 shares of the stock were exchanged, compared to its average volume of 684,254. The stock has a market capitalization of $559.17 million, a P/E ratio of -2.30 and a beta of 0.98. Consolidated Communications has a 1 year low of $4.18 and a 1 year high of $4.75. The company has a 50 day simple moving average of $4.67 and a 200-day simple moving average of $4.58. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 10.13.

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.