Private Management Group Inc. Reduces Stock Holdings in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)

Private Management Group Inc. lessened its holdings in shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL - Free Report) by 66.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 288,553 shares of the utilities provider's stock after selling 580,364 shares during the quarter. Private Management Group Inc. owned approximately 0.25% of Consolidated Communications worth $1,255,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank raised its holdings in Consolidated Communications by 3.0% in the 3rd quarter. Swiss National Bank now owns 166,647 shares of the utilities provider's stock valued at $570,000 after buying an additional 4,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Consolidated Communications by 39.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,982 shares of the utilities provider's stock valued at $74,000 after buying an additional 4,803 shares during the period. Kingswood Wealth Advisors LLC purchased a new stake in Consolidated Communications in the 4th quarter valued at about $47,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Consolidated Communications in the 3rd quarter valued at about $50,000. Finally, AE Wealth Management LLC purchased a new stake in Consolidated Communications in the 3rd quarter valued at about $86,000. Institutional investors and hedge funds own 79.98% of the company's stock.

Consolidated Communications Trading Down 0.2 %

NASDAQ:CNSL traded down $0.01 on Wednesday, reaching $4.24. 941,289 shares of the company's stock were exchanged, compared to its average volume of 769,347. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.25. The firm has a market capitalization of $502.14 million, a price-to-earnings ratio of -1.63 and a beta of 1.07. The business has a fifty day moving average of $4.30 and a 200-day moving average of $4.28. Consolidated Communications Holdings, Inc. has a 52-week low of $2.93 and a 52-week high of $4.65.

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. Consolidated Communications had a negative return on equity of 16.89% and a negative net margin of 22.53%. The company had revenue of $275.18 million for the quarter.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Consolidated Communications in a research note on Monday. They set a "sell" rating on the stock.

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.