UBS Asset Management Americas Inc. Sells 5,533 Shares of Consolidated Communications Holdings Inc (NASDAQ:CNSL)

UBS Asset Management Americas Inc. lowered its stake in shares of Consolidated Communications Holdings Inc (NASDAQ:CNSL) by 12.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,920 shares of the utilities provider’s stock after selling 5,533 shares during the quarter. UBS Asset Management Americas Inc. owned 0.06% of Consolidated Communications worth $197,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in Consolidated Communications by 3.5% during the second quarter. BlackRock Inc. now owns 11,285,901 shares of the utilities provider’s stock worth $55,640,000 after buying an additional 381,605 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Consolidated Communications by 313.5% during the second quarter. JPMorgan Chase & Co. now owns 3,498,424 shares of the utilities provider’s stock worth $17,142,000 after buying an additional 2,652,396 shares in the last quarter. First Trust Advisors LP grew its holdings in Consolidated Communications by 140.8% during the second quarter. First Trust Advisors LP now owns 3,268,691 shares of the utilities provider’s stock worth $16,115,000 after buying an additional 1,911,180 shares in the last quarter. Morgan Stanley grew its holdings in Consolidated Communications by 161.8% during the second quarter. Morgan Stanley now owns 1,309,103 shares of the utilities provider’s stock worth $6,455,000 after buying an additional 808,987 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Consolidated Communications during the second quarter worth $6,390,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

CNSL stock opened at $3.51 on Tuesday. The stock’s fifty day simple moving average is $4.17 and its two-hundred day simple moving average is $5.28. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 6.43. Consolidated Communications Holdings Inc has a 1-year low of $3.24 and a 1-year high of $14.23. The stock has a market cap of $250.10 million, a P/E ratio of -8.36 and a beta of 1.21.

Consolidated Communications (NASDAQ:CNSL) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. Consolidated Communications had a negative return on equity of 5.29% and a negative net margin of 3.19%. The business had revenue of $333.53 million for the quarter, compared to analysts’ expectations of $333.65 million. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. The business’s revenue was down 4.8% on a year-over-year basis.

Several brokerages recently issued reports on CNSL. ValuEngine upgraded Consolidated Communications from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research downgraded Consolidated Communications from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BidaskClub downgraded Consolidated Communications from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $5.92.

About Consolidated Communications

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.

Recommended Story: High-Yield Dividend Stocks

Want to see what other hedge funds are holding CNSL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Communications Holdings Inc (NASDAQ:CNSL).

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

Receive News & Ratings for Consolidated Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Communications and related companies with MarketBeat.com's FREE daily email newsletter.