Rhumbline Advisers Buys 3,415 Shares of Consolidated Communications Holdings, Inc. (CNSL)

Rhumbline Advisers Buys 3,415 Shares of Consolidated Communications Holdings, Inc. (CNSL)

Rhumbline Advisers increased its position in shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 5.0% during the third quarter, Holdings Channel reports. The firm owned 71,705 shares of the company’s stock after buying an additional 3,415 shares during the period. Rhumbline Advisers owned approximately 0.14% of Consolidated Communications Holdings worth $1,810,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Investment Management LLC raised its stake in Consolidated Communications Holdings by 4.6% in the second quarter. BlackRock Investment Management LLC now owns 213,358 shares of the company’s stock worth $5,812,000 after buying an additional 9,472 shares during the period. BlackRock Advisors LLC raised its stake in Consolidated Communications Holdings by 1.7% in the second quarter. BlackRock Advisors LLC now owns 23,849 shares of the company’s stock worth $650,000 after buying an additional 395 shares during the period. Vanguard Group Inc. raised its stake in Consolidated Communications Holdings by 5.6% in the second quarter. Vanguard Group Inc. now owns 5,017,836 shares of the company’s stock worth $136,685,000 after buying an additional 263,981 shares during the period. Principal Financial Group Inc. raised its stake in Consolidated Communications Holdings by 3.8% in the second quarter. Principal Financial Group Inc. now owns 651,237 shares of the company’s stock worth $17,740,000 after buying an additional 23,820 shares during the period. Finally, Prudential Financial Inc. raised its stake in Consolidated Communications Holdings by 1.8% in the second quarter. Prudential Financial Inc. now owns 123,189 shares of the company’s stock worth $3,356,000 after buying an additional 2,150 shares during the period. 63.03% of the stock is owned by institutional investors.

Shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) traded up 0.88% on Friday, hitting $26.35. The stock had a trading volume of 343,394 shares. Consolidated Communications Holdings, Inc. has a 52-week low of $18.53 and a 52-week high of $30.23. The company has a 50-day moving average of $26.91 and a 200-day moving average of $25.95. The company has a market cap of $1.33 billion, a P/E ratio of 68.98 and a beta of 1.25.

Consolidated Communications Holdings (NASDAQ:CNSL) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.16 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.16. The firm earned $191.50 million during the quarter, compared to analyst estimates of $188.81 million. Consolidated Communications Holdings had a return on equity of 14.50% and a net margin of 2.60%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. On average, equities analysts anticipate that Consolidated Communications Holdings, Inc. will post $0.68 EPS for the current fiscal year.

The business also recently declared a dividend, which will be paid on Wednesday, February 1st. Investors of record on Friday, January 13th will be given a $0.387 dividend. The ex-dividend date is Wednesday, January 11th. Consolidated Communications Holdings’s dividend payout ratio is currently 407.89%.

A number of equities research analysts have recently weighed in on the company. Drexel Hamilton lowered Consolidated Communications Holdings from a “buy” rating to a “hold” rating in a research note on Monday, December 5th. Zacks Investment Research raised Consolidated Communications Holdings from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday, January 4th. Jefferies Group LLC upped their price target on Consolidated Communications Holdings from $22.00 to $27.00 and gave the company a “hold” rating in a research report on Tuesday, December 6th. Raymond James Financial, Inc. raised Consolidated Communications Holdings from an “underperform” rating to a “market perform” rating in a research report on Tuesday, December 6th. Finally, Stephens lowered Consolidated Communications Holdings from an “equal weight” rating to an “underweight” rating in a research report on Thursday, October 20th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $24.50.

In related news, insider C Robert Udell, Jr. sold 15,000 shares of Consolidated Communications Holdings stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $27.22, for a total value of $408,300.00. Following the completion of the transaction, the insider now owns 61,997 shares in the company, valued at $1,687,558.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.10% of the company’s stock.

About Consolidated Communications Holdings

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.

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