StockNews.com Lowers Consolidated Communications (NASDAQ:CNSL) to Sell

StockNews.com cut shares of Consolidated Communications (NASDAQ:CNSL) from a hold rating to a sell rating in a research report report published on Friday.

Consolidated Communications Price Performance

Shares of CNSL opened at $4.20 on Friday. The company has a debt-to-equity ratio of 4.40, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50 day moving average price of $3.84 and a 200-day moving average price of $3.76. Consolidated Communications has a fifty-two week low of $2.10 and a fifty-two week high of $4.92. The stock has a market capitalization of $489.26 million, a PE ratio of -1.69 and a beta of 1.24.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barrett & Company Inc. bought a new stake in Consolidated Communications during the first quarter valued at about $27,000. Pictet Asset Management SA purchased a new position in shares of Consolidated Communications in the 1st quarter worth approximately $28,000. Covestor Ltd raised its stake in shares of Consolidated Communications by 826.0% during the 2nd quarter. Covestor Ltd now owns 7,501 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 6,691 shares in the last quarter. FMR LLC lifted its position in Consolidated Communications by 397.5% during the first quarter. FMR LLC now owns 10,969 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 8,764 shares during the last quarter. Finally, Advisor Partners II LLC acquired a new stake in Consolidated Communications in the first quarter valued at approximately $28,000. 79.98% of the stock is currently owned by hedge funds and other 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.