Gabelli Funds LLC Grows Stock Holdings in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)

Gabelli Funds LLC lifted its holdings in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 2,427.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 379,061 shares of the utilities provider’s stock after acquiring an additional 364,061 shares during the quarter. Gabelli Funds LLC owned 0.32% of Consolidated Communications worth $1,638,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Kingswood Wealth Advisors LLC acquired a new stake in Consolidated Communications during the 4th quarter worth about $47,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Consolidated Communications by 39.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,982 shares of the utilities provider’s stock worth $74,000 after acquiring an additional 4,803 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in Consolidated Communications by 22.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 17,922 shares of the utilities provider’s stock valued at $78,000 after acquiring an additional 3,243 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Consolidated Communications in the first quarter valued at approximately $83,000. Finally, Gamco Investors INC. ET AL purchased a new stake in Consolidated Communications in the 1st quarter worth approximately $110,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Consolidated Communications in a report on Saturday. They set a “sell” rating for the company.

Consolidated Communications Trading Up 1.3 %

Shares of Consolidated Communications stock traded up $0.06 during trading hours on Friday, reaching $4.58. The stock had a trading volume of 1,219,063 shares, compared to its average volume of 576,036. The stock’s 50 day moving average is $4.40 and its 200 day moving average is $4.35. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 6.09. Consolidated Communications Holdings, Inc. has a twelve month low of $3.28 and a twelve month high of $4.65.

Consolidated Communications (NASDAQ:CNSL) last released its quarterly earnings results on Tuesday, May 7th. The utilities provider reported ($0.28) earnings per share for the quarter. Consolidated Communications had a negative return on equity of 19.47% and a negative net margin of 22.42%. The business had revenue of $274.68 million during the quarter.

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.