Private Management Group Inc. boosted its position in shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 19.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,317,363 shares of the utilities provider’s stock after acquiring an additional 212,213 shares during the quarter. Consolidated Communications Holdings accounts for approximately 1.3% of Private Management Group Inc.’s investment portfolio, making the stock its 29th biggest holding. Private Management Group Inc. owned approximately 1.86% of Consolidated Communications Holdings worth $25,135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. raised its position in shares of Consolidated Communications Holdings by 97,076.8% in the first quarter. BlackRock Inc. now owns 7,040,459 shares of the utilities provider’s stock valued at $164,887,000 after purchasing an additional 7,033,214 shares during the period. Principal Financial Group Inc. raised its position in shares of Consolidated Communications Holdings by 85.9% in the second quarter. Principal Financial Group Inc. now owns 1,500,225 shares of the utilities provider’s stock valued at $32,209,000 after purchasing an additional 693,132 shares during the period. Royal Bank of Canada raised its position in shares of Consolidated Communications Holdings by 11.1% in the second quarter. Royal Bank of Canada now owns 6,029,890 shares of the utilities provider’s stock valued at $129,462,000 after purchasing an additional 601,410 shares during the period. Vanguard Group Inc. raised its position in shares of Consolidated Communications Holdings by 7.3% in the first quarter. Vanguard Group Inc. now owns 5,607,472 shares of the utilities provider’s stock valued at $131,326,000 after purchasing an additional 380,770 shares during the period. Finally, Citadel Advisors LLC raised 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 valued at $5,275,000 after purchasing an additional 259,705 shares during the period. 67.72% of the stock is currently owned by hedge funds and other institutional investors.

In other Consolidated Communications Holdings news, Director Robert J. Currey purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were acquired at an average cost of $18.18 per share, for a total transaction of $36,360.00. Following the completion of the purchase, the director now owns 45,995 shares of the company’s stock, valued at approximately $836,189.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert J. Currey purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average price of $13.43 per share, for a total transaction of $67,150.00. Following the completion of the purchase, the director now directly owns 45,995 shares of the company’s stock, valued at approximately $617,712.85. The disclosure for this purchase can be found here. Insiders purchased 27,938 shares of company stock worth $444,751 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Consolidated Communications Holdings, Inc. (CNSL) traded up $0.95 during mid-day trading on Wednesday, hitting $14.07. 764,105 shares of the company traded hands, compared to its average volume of 553,897. The company has a debt-to-equity ratio of 4.61, a current ratio of 0.88 and a quick ratio of 0.88. Consolidated Communications Holdings, Inc. has a fifty-two week low of $13.11 and a fifty-two week high of $30.23. The firm has a market capitalization of $961.95, a P/E ratio of 38.80, a PEG ratio of 24.47 and a beta of 0.86.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Monday, January 15th will be paid a $0.387 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.55 annualized dividend and a dividend yield of 11.00%. Consolidated Communications Holdings’s dividend payout ratio (DPR) is presently -287.03%.

CNSL has been the topic of several research analyst reports. BidaskClub lowered shares of Consolidated Communications Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. ValuEngine raised shares of Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Cowen and Company reissued a “hold” rating and issued a $22.00 price objective on shares of Consolidated Communications Holdings in a research report on Friday, July 28th. TheStreet lowered shares of Consolidated Communications Holdings from a “c” rating to a “d+” rating in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC dropped their price objective on shares of Consolidated Communications Holdings from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $22.00.

TRADEMARK VIOLATION WARNING: This report was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this report can be read at https://www.thecerbatgem.com/2017/11/15/private-management-group-inc-has-25-14-million-holdings-in-consolidated-communications-holdings-inc-cnsl.html.

Consolidated Communications Holdings 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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Institutional Ownership by Quarter for Consolidated Communications Holdings (NASDAQ:CNSL)

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