Consolidated Communications (NASDAQ:CNSL) Sees Large Volume Increase – Still a Buy?

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) shares saw unusually-strong trading volume on Monday . Approximately 1,172,307 shares traded hands during mid-day trading, an increase of 93% from the previous session’s volume of 608,122 shares.The stock last traded at $4.71 and had previously closed at $4.66.

Consolidated Communications Stock Performance

The company’s 50-day moving average price is $4.66 and its two-hundred day moving average price is $4.57. The company has a market cap of $557.98 million, a P/E ratio of -2.30 and a beta of 0.99. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 10.13.

Institutional Investors Weigh In On Consolidated Communications

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of Consolidated Communications during the third quarter worth $47,000. Quantinno Capital Management LP acquired a new stake in Consolidated Communications during the 3rd quarter worth about $53,000. Quantbot Technologies LP purchased a new stake in Consolidated Communications during the third quarter valued at about $55,000. Rather & Kittrell Inc. acquired a new position in shares of Consolidated Communications in the second quarter worth about $112,000. Finally, AQR Capital Management LLC increased its position in shares of Consolidated Communications by 22.1% in the second quarter. AQR Capital Management LLC now owns 28,017 shares of the utilities provider’s stock worth $123,000 after acquiring an additional 5,074 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

About Consolidated Communications

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.