First Trust Advisors LP increased its holdings in Consolidated Communications Holdings Inc (NASDAQ:CNSL) by 551.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,357,511 shares of the utilities provider’s stock after acquiring an additional 1,149,191 shares during the quarter. First Trust Advisors LP’s holdings in Consolidated Communications were worth $14,810,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CNSL. Morgan Stanley raised its position in shares of Consolidated Communications by 96.8% during the 3rd quarter. Morgan Stanley now owns 348,558 shares of the utilities provider’s stock valued at $4,545,000 after buying an additional 171,439 shares in the last quarter. Arizona State Retirement System raised its position in Consolidated Communications by 6.2% in the 4th quarter. Arizona State Retirement System now owns 109,726 shares of the utilities provider’s stock worth $1,084,000 after purchasing an additional 6,364 shares during the period. Rhumbline Advisers raised its position in Consolidated Communications by 21.1% in the 4th quarter. Rhumbline Advisers now owns 207,089 shares of the utilities provider’s stock worth $2,046,000 after purchasing an additional 36,133 shares during the period. SG Americas Securities LLC raised its position in Consolidated Communications by 62.0% in the 4th quarter. SG Americas Securities LLC now owns 56,255 shares of the utilities provider’s stock worth $556,000 after purchasing an additional 21,531 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in Consolidated Communications by 13.8% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 45,958 shares of the utilities provider’s stock worth $454,000 after purchasing an additional 5,574 shares during the period. Institutional investors own 75.14% of the company’s stock.

A number of analysts recently weighed in on the stock. BidaskClub raised shares of Consolidated Communications from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. TheStreet downgraded shares of Consolidated Communications from a “c-” rating to a “d+” rating in a research note on Friday, April 26th. Wells Fargo & Co upgraded shares of Consolidated Communications from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $11.25 to $8.00 in a research note on Friday, April 26th. Zacks Investment Research upgraded shares of Consolidated Communications from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Tuesday, April 30th. Finally, ValuEngine downgraded shares of Consolidated Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $6.00.

In other Consolidated Communications news, CEO C Robert Udell, Jr. acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were purchased at an average cost of $4.34 per share, for a total transaction of $43,400.00. Following the completion of the purchase, the chief executive officer now owns 333,844 shares in the company, valued at $1,448,882.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by company insiders.

Shares of CNSL stock opened at $4.00 on Monday. The company has a debt-to-equity ratio of 6.14, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $288.39 million, a price-to-earnings ratio of -9.52 and a beta of 0.99. Consolidated Communications Holdings Inc has a one year low of $3.91 and a one year high of $14.23.

Consolidated Communications (NASDAQ:CNSL) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.11. Consolidated Communications had a negative net margin of 3.39% and a negative return on equity of 5.87%. The firm had revenue of $338.65 million for the quarter, compared to the consensus estimate of $338.29 million. During the same period last year, the firm earned ($0.07) earnings per share. The company’s quarterly revenue was down 4.9% on a year-over-year basis. On average, equities analysts forecast that Consolidated Communications Holdings Inc will post -0.25 EPS for the current fiscal year.

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Consolidated Communications Profile

Consolidated Communications Holdings, Inc, through its subsidiaries, provides telecommunications services to business and residential customers in the United States. It offers high-speed broadband Internet access and voice over Internet protocol (VoIP) phone services to small, medium, and large business customers; commercial data connectivity services in select markets, including a portfolio of Ethernet services, software defined wide area network, multi-protocol label switching, and private line services; and wholesale services to regional and national interexchange and wireless carriers, including cellular backhaul, dark fiber, and other fiber transport solutions.

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

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