Consolidated Communications Holdings, Inc. (CNSL) Position Raised by Menta Capital LLC

Menta Capital LLC lifted its stake in shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 123.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,580 shares of the utilities provider’s stock after purchasing an additional 78,280 shares during the quarter. Menta Capital LLC owned about 0.28% of Consolidated Communications Holdings worth $3,040,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new stake in shares of Consolidated Communications Holdings during the first quarter valued at about $100,000. SG Americas Securities LLC bought a new stake in shares of Consolidated Communications Holdings during the second quarter valued at about $127,000. State of Alaska Department of Revenue raised its stake in shares of Consolidated Communications Holdings by 79.2% during the second quarter. State of Alaska Department of Revenue now owns 10,020 shares of the utilities provider’s stock valued at $215,000 after purchasing an additional 4,430 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of Consolidated Communications Holdings by 6.9% during the first quarter. Mason Street Advisors LLC now owns 11,833 shares of the utilities provider’s stock valued at $277,000 after purchasing an additional 764 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of Consolidated Communications Holdings by 3.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 11,950 shares of the utilities provider’s stock valued at $257,000 after purchasing an additional 440 shares in the last quarter. Institutional investors and hedge funds own 67.72% of the company’s stock.

In other news, Director Richard Anthony Lumpkin purchased 5,300 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $19.17 per share, with a total value of $101,601.00. Following the completion of the purchase, the director now directly owns 12,667 shares of the company’s stock, valued at approximately $242,826.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert J. Currey purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were purchased at an average cost of $19.33 per share, for a total transaction of $96,650.00. Following the purchase, the director now directly owns 48,495 shares of the company’s stock, valued at $937,408.35. The disclosure for this purchase can be found here. Insiders have bought 26,688 shares of company stock worth $495,724 in the last ninety days. 3.00% of the stock is currently owned by insiders.

A number of equities research analysts recently weighed in on the stock. UBS AG upgraded shares of Consolidated Communications Holdings to a “strong-buy” rating in a research note on Friday, June 9th. TheStreet lowered Consolidated Communications Holdings from a “c” rating to a “d+” rating in a report on Thursday, August 3rd. BidaskClub raised Consolidated Communications Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Citigroup Inc. raised Consolidated Communications Holdings from a “sell” rating to a “neutral” rating in a report on Wednesday, June 7th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $22.00 target price on shares of Consolidated Communications Holdings in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $25.60.

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Consolidated Communications Holdings, Inc. (NASDAQ CNSL) traded up 0.77% on Tuesday, reaching $18.43. The company had a trading volume of 66,904 shares. Consolidated Communications Holdings, Inc. has a 12 month low of $17.21 and a 12 month high of $30.23. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 6143.33 and a beta of 0.91. The company’s 50 day moving average price is $18.64 and its 200-day moving average price is $20.82.

Consolidated Communications Holdings (NASDAQ:CNSL) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. Consolidated Communications Holdings had a return on equity of 15.30% and a net margin of 0.09%. The business had revenue of $169.95 million for the quarter, compared to analyst estimates of $169.69 million. During the same quarter in the prior year, the firm posted $0.20 earnings per share. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, equities analysts predict that Consolidated Communications Holdings, Inc. will post $0.55 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Sunday, October 15th will be paid a dividend of $0.3874 per share. This represents a $1.55 annualized dividend and a dividend yield of 8.47%. The ex-dividend date of this dividend is Thursday, October 12th. Consolidated Communications Holdings’s dividend payout ratio (DPR) is presently 15,500.00%.

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.

Institutional Ownership by Quarter for Consolidated Communications Holdings (NASDAQ:CNSL)

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