Ballentine Partners LLC Purchases New Stake in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)

Ballentine Partners LLC purchased a new stake in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,579,429 shares of the utilities provider's stock, valued at approximately $6,871,000. Ballentine Partners LLC owned 1.36% of Consolidated Communications as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. UBS Group AG raised its holdings in shares of Consolidated Communications by 8.5% in the 2nd quarter. UBS Group AG now owns 24,569 shares of the utilities provider's stock valued at $173,000 after purchasing an additional 1,933 shares in the last quarter. Captrust Financial Advisors raised its stake in Consolidated Communications by 38.2% in the first quarter. Captrust Financial Advisors now owns 7,183 shares of the utilities provider's stock worth $42,000 after buying an additional 1,987 shares in the last quarter. Creative Planning lifted its holdings in Consolidated Communications by 5.8% during the second quarter. Creative Planning now owns 40,819 shares of the utilities provider's stock worth $286,000 after buying an additional 2,250 shares during the period. Credit Suisse AG boosted its position in Consolidated Communications by 5.0% during the 3rd quarter. Credit Suisse AG now owns 51,216 shares of the utilities provider's stock valued at $214,000 after acquiring an additional 2,462 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Consolidated Communications by 12.8% in the 1st quarter. Bank of Montreal Can now owns 22,615 shares of the utilities provider's stock valued at $136,000 after acquiring an additional 2,563 shares during the period. Institutional investors own 79.98% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Consolidated Communications in a research report on Friday, March 29th. They set a "sell" rating on the stock.

Consolidated Communications Price Performance

NASDAQ CNSL remained flat at $4.32 on Wednesday. 211,960 shares of the company's stock traded hands, compared to its average volume of 750,382. Consolidated Communications Holdings, Inc. has a fifty-two week low of $2.44 and a fifty-two week high of $4.65. The business has a 50-day moving average of $4.32 and a two-hundred day moving average of $4.20. The company has a debt-to-equity ratio of 5.25, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $501.12 million, a PE ratio of -1.66 and a beta of 1.07.

Consolidated Communications (NASDAQ:CNSL - Get Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The utilities provider reported ($0.27) EPS for the quarter. The company had revenue of $275.18 million during the quarter. Consolidated Communications had a negative net margin of 22.53% and a negative return on equity of 16.89%.

Consolidated Communications 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.