Engineers Gate Manager LP bought a new position in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 39,364 shares of the utilities provider’s stock, valued at approximately $751,000. Engineers Gate Manager LP owned 0.06% of Consolidated Communications at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CNSL. Teachers Advisors LLC lifted its position in Consolidated Communications by 3.5% in the first quarter. Teachers Advisors LLC now owns 88,510 shares of the utilities provider’s stock worth $2,073,000 after purchasing an additional 2,964 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in Consolidated Communications 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 purchasing an additional 440 shares during the period. Great West Life Assurance Co. Can lifted its position in Consolidated Communications by 3.7% in the second quarter. Great West Life Assurance Co. Can now owns 73,624 shares of the utilities provider’s stock worth $1,580,000 after purchasing an additional 2,600 shares during the period. Texas Permanent School Fund lifted its position in Consolidated Communications by 1.6% in the second quarter. Texas Permanent School Fund now owns 25,113 shares of the utilities provider’s stock worth $539,000 after purchasing an additional 401 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in Consolidated Communications by 12.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 360,612 shares of the utilities provider’s stock worth $7,743,000 after purchasing an additional 40,190 shares during the period. 70.83% of the stock is owned by hedge funds and other institutional investors.

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) opened at $12.75 on Friday. The stock has a market capitalization of $879.78, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 22.38 and a beta of 0.73. Consolidated Communications Holdings, Inc. has a twelve month low of $12.07 and a twelve month high of $28.11. The company has a debt-to-equity ratio of 4.61, a quick ratio of 0.88 and a current ratio of 0.88.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Monday, January 15th will be issued a dividend of $0.387 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 12.14%. Consolidated Communications’s payout ratio is presently -287.03%.

In other Consolidated Communications news, Director Robert J. Currey purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average cost of $13.43 per share, with a total value of $67,150.00. Following the completion of the acquisition, the director now directly owns 45,995 shares of the company’s stock, valued at approximately $617,712.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Gerke purchased 6,850 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was acquired at an average cost of $14.63 per share, with a total value of $100,215.50. Following the completion of the acquisition, the director now directly owns 12,667 shares of the company’s stock, valued at $185,318.21. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 17,550 shares of company stock valued at $247,203. Company insiders own 3.00% of the company’s stock.

Several brokerages recently commented on CNSL. ValuEngine cut Consolidated Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. Cowen reissued a “hold” rating and set a $21.00 price objective on shares of Consolidated Communications in a report on Thursday, October 19th. Zacks Investment Research cut Consolidated Communications from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Finally, Jefferies Group cut their price objective on Consolidated Communications from $21.00 to $19.00 and set a “hold” rating for the company in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. Consolidated Communications has an average rating of “Hold” and a consensus target price of $22.00.

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Consolidated Communications 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.

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

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