Consolidated Communications (NASDAQ:CNSL) Sees Unusually-High Trading Volume – Here’s Why

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) shares saw unusually-high trading volume on Tuesday . Approximately 2,631,641 shares traded hands during trading, an increase of 365% from the previous session’s volume of 565,620 shares.The stock last traded at $4.70 and had previously closed at $4.70.

Consolidated Communications Stock Performance

The stock’s 50 day moving average is $4.65 and its two-hundred day moving average is $4.56. The firm has a market capitalization of $554.43 million, a P/E ratio of -2.28 and a beta of 0.98. The company has a debt-to-equity ratio of 10.13, a current ratio of 0.76 and a quick ratio of 0.76.

Hedge Funds Weigh In On Consolidated Communications

Hedge funds have recently added to or reduced their stakes in the stock. 272 Capital LP acquired a new position in shares of Consolidated Communications in the 3rd quarter valued at $297,000. Virtu Financial LLC bought a new stake in shares of Consolidated Communications in the third quarter worth about $47,000. Barclays PLC raised its position in shares of Consolidated Communications by 359.7% during the third quarter. Barclays PLC now owns 128,059 shares of the utilities provider’s stock worth $594,000 after purchasing an additional 100,201 shares during the period. Jane Street Group LLC lifted its holdings in shares of Consolidated Communications by 154.9% during the 3rd quarter. Jane Street Group LLC now owns 276,771 shares of the utilities provider’s stock valued at $1,284,000 after purchasing an additional 168,210 shares in the last quarter. Finally, State Street Corp grew its position in shares of Consolidated Communications by 2.5% in the 3rd quarter. State Street Corp now owns 2,948,326 shares of the utilities provider’s stock valued at $13,680,000 after purchasing an additional 71,384 shares during the period. Institutional investors and hedge funds 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.