Consolidated Communications (NASDAQ:CNSL) Stock Price Passes Above 200-Day Moving Average – Here’s Why

by · The Markets Daily

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL – Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.51 and traded as high as $4.65. Consolidated Communications shares last traded at $4.63, with a volume of 576,356 shares.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Consolidated Communications in a research report on Saturday, July 27th. They set a “sell” rating for the company.

Get Our Latest Analysis on CNSL

Consolidated Communications Price Performance

The stock has a fifty day moving average of $4.63 and a two-hundred day moving average of $4.51. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 10.13. The stock has a market cap of $548.52 million, a price-to-earnings ratio of -2.26 and a beta of 0.98.

Institutional Investors Weigh In On Consolidated Communications

Several institutional investors have recently bought and sold shares of CNSL. BNP Paribas Financial Markets lifted its holdings in shares of Consolidated Communications by 40.2% during the 1st quarter. BNP Paribas Financial Markets now owns 37,661 shares of the utilities provider’s stock valued at $163,000 after acquiring an additional 10,800 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Consolidated Communications by 0.5% in the first quarter. Vanguard Group Inc. now owns 5,288,739 shares of the utilities provider’s stock worth $22,847,000 after buying an additional 25,226 shares during the period. Gamco Investors INC. ET AL acquired a new stake in shares of Consolidated Communications in the first quarter valued at about $110,000. Gabelli Funds LLC raised its holdings in shares of Consolidated Communications by 2,427.1% during the 1st quarter. Gabelli Funds LLC now owns 379,061 shares of the utilities provider’s stock valued at $1,638,000 after buying an additional 364,061 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Consolidated Communications during the 1st quarter worth approximately $1,488,000. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

About Consolidated Communications

(Get Free Report)

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.

Featured Stories