Consolidated Communications (NASDAQ:CNSL) Reaches New 12-Month High – Here’s What Happened

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $4.72 and last traded at $4.68, with a volume of 549498 shares changing hands. The stock had previously closed at $4.63.

Consolidated Communications Price Performance

The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.76 and a current ratio of 0.76. The business has a 50-day simple moving average of $4.63 and a 200 day simple moving average of $4.52. The firm has a market cap of $553.25 million, a P/E ratio of -2.28 and a beta of 0.98.

Institutional Trading of Consolidated Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNSL. Gardner Lewis Asset Management L P bought a new position in Consolidated Communications in the 2nd quarter worth $2,247,000. Trium Capital LLP purchased a new stake in Consolidated Communications in the second quarter worth about $680,000. Wolverine Asset Management LLC boosted its position in Consolidated Communications by 91.4% during the 2nd quarter. Wolverine Asset Management LLC now owns 308,682 shares of the utilities provider’s stock valued at $1,358,000 after acquiring an additional 147,416 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Consolidated Communications by 54.5% during the 1st quarter. California State Teachers Retirement System now owns 125,443 shares of the utilities provider’s stock worth $542,000 after acquiring an additional 44,273 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of Consolidated Communications in the 2nd quarter worth approximately $192,000. Hedge funds and other institutional investors own 79.98% of the company’s 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.