Consolidated Communications (NASDAQ:CNSL) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.51 and traded as high as $4.65. Consolidated Communications shares last traded at $4.63, with a volume of 576,356 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Consolidated Communications in a research report on Saturday, July 27th. They set a “sell” rating on the stock.

Consolidated Communications Stock Performance

The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 10.13. The company has a market capitalization of $548.52 million, a price-to-earnings ratio of -2.26 and a beta of 0.98. The stock has a 50-day simple moving average of $4.63 and a 200-day simple moving average of $4.51.

Institutional Trading of Consolidated Communications

Several hedge funds have recently made changes to their positions in CNSL. The Manufacturers Life Insurance Company boosted its holdings in shares of Consolidated Communications by 14.2% in the second quarter. The Manufacturers Life Insurance Company now owns 32,657 shares of the utilities provider’s stock valued at $144,000 after acquiring an additional 4,061 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Consolidated Communications by 9.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,012 shares of the utilities provider’s stock valued at $230,000 after acquiring an additional 4,535 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Consolidated Communications by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 244,967 shares of the utilities provider’s stock worth $1,078,000 after purchasing an additional 5,066 shares in the last quarter. AQR Capital Management LLC lifted its stake in Consolidated Communications by 22.1% in the second quarter. AQR Capital Management LLC now owns 28,017 shares of the utilities provider’s stock valued at $123,000 after acquiring an additional 5,074 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Consolidated Communications in the third quarter worth $47,000. Institutional investors own 79.98% of the company’s stock.

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.