Consolidated Communications (NASDAQ:CNSL) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Consolidated Communications (NASDAQ:CNSL) in a research note issued to investors on Monday morning. The brokerage issued a sell rating on the utilities provider’s stock.

Consolidated Communications Stock Performance

NASDAQ:CNSL opened at $4.24 on Monday. The stock has a market cap of $502.14 million, a P/E ratio of -1.63 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.25. The stock’s 50-day moving average is $4.30 and its 200-day moving average is $4.28. Consolidated Communications has a 1-year low of $2.93 and a 1-year high of $4.65.

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

Institutional Trading of Consolidated Communications

Several institutional investors have recently added to or reduced their stakes in the stock. Black Maple Capital Management LP boosted its holdings in Consolidated Communications by 93.9% in the fourth quarter. Black Maple Capital Management LP now owns 51,616 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 25,000 shares during the last quarter. PenderFund Capital Management Ltd. bought a new stake in Consolidated Communications in the fourth quarter valued at approximately $388,000. Water Island Capital LLC bought a new stake in Consolidated Communications in the fourth quarter valued at approximately $491,000. Highbridge Capital Management LLC bought a new stake in Consolidated Communications in the fourth quarter valued at approximately $1,343,000. Finally, Olympiad Research LP bought a new stake in Consolidated Communications in the fourth quarter valued at approximately $1,005,000. 79.98% of the stock is currently owned by institutional investors.

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.