Summit Securities Group LLC bought a new position in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 30,771 shares of the utilities provider’s stock, valued at approximately $661,000.

Several other large investors have also bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new stake in Consolidated Communications Holdings during the first quarter worth $100,000. State of Alaska Department of Revenue raised its stake in Consolidated Communications Holdings by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 5,590 shares of the utilities provider’s stock worth $130,000 after buying an additional 110 shares in the last quarter. Taylor Wealth Management Partners raised its stake in Consolidated Communications Holdings by 196.3% in the first quarter. Taylor Wealth Management Partners now owns 8,302 shares of the utilities provider’s stock worth $194,000 after buying an additional 5,500 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in Consolidated Communications Holdings during the second quarter worth $254,000. Finally, Municipal Employees Retirement System of Michigan raised its stake in Consolidated Communications Holdings by 3.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 11,950 shares of the utilities provider’s stock worth $257,000 after buying an additional 440 shares in the last quarter. Institutional investors own 67.14% of the company’s stock.

Shares of Consolidated Communications Holdings, Inc. (CNSL) opened at 19.26 on Friday. The company has a market capitalization of $1.36 billion, a P/E ratio of 6420.00 and a beta of 0.91. The firm has a 50-day moving average of $19.37 and a 200-day moving average of $22.10. Consolidated Communications Holdings, Inc. has a 12 month low of $17.41 and a 12 month high of $30.23.

Consolidated Communications Holdings (NASDAQ:CNSL) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $169.95 million during the quarter, compared to analysts’ expectations of $169.69 million. Consolidated Communications Holdings had a net margin of 0.09% and a return on equity of 15.30%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 earnings per share. On average, equities analysts predict that Consolidated Communications Holdings, Inc. will post $0.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Sunday, October 15th will be issued a $0.3874 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.55 annualized dividend and a yield of 8.05%. Consolidated Communications Holdings’s dividend payout ratio (DPR) is presently 15,500.00%.

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CNSL has been the topic of a number of analyst reports. BidaskClub upgraded shares of Consolidated Communications Holdings from a “hold” rating to a “buy” rating in a report on Tuesday. TheStreet lowered shares of Consolidated Communications Holdings from a “c” rating to a “d+” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, April 26th. ValuEngine upgraded shares of Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Cowen and Company restated a “hold” rating and issued a $22.00 target price on shares of Consolidated Communications Holdings in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $25.60.

In other news, Director Robert J. Currey bought 5,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was acquired at an average cost of $19.33 per share, with a total value of $96,650.00. Following the completion of the acquisition, the director now owns 48,495 shares of the company’s stock, valued at $937,408.35. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by insiders.

Consolidated Communications Holdings Company Profile

Consolidated Communications Holdings, Inc is a holding company with operating subsidiaries that provide integrated communications services in consumer, commercial and carrier channels in California, Illinois, Iowa, Kansas, Minnesota, Missouri, North Dakota, Pennsylvania, South Dakota, Texas and Wisconsin.

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Institutional Ownership by Quarter for Consolidated Communications Holdings (NASDAQ:CNSL)

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