Systematic Financial Management LP Buys New Position in Consolidated Communications Holdings, Inc. (CNSL)

Systematic Financial Management LP bought a new stake in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 85,330 shares of the utilities provider’s stock, valued at approximately $1,628,000. Systematic Financial Management LP owned about 0.12% of Consolidated Communications at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its stake in Consolidated Communications by 85.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,500,225 shares of the utilities provider’s stock worth $32,209,000 after purchasing an additional 693,132 shares during the period. Royal Bank of Canada lifted its stake in shares of Consolidated Communications by 11.1% in the 2nd quarter. Royal Bank of Canada now owns 6,029,890 shares of the utilities provider’s stock worth $129,462,000 after acquiring an additional 601,410 shares during the period. Citadel Advisors LLC lifted its stake in shares of Consolidated Communications by 1,855.0% in the 2nd quarter. Citadel Advisors LLC now owns 245,705 shares of the utilities provider’s stock worth $5,275,000 after acquiring an additional 259,705 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Consolidated Communications by 262.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 296,675 shares of the utilities provider’s stock worth $6,370,000 after acquiring an additional 214,795 shares during the period. Finally, Private Management Group Inc. lifted its stake in shares of Consolidated Communications by 19.2% in the 3rd quarter. Private Management Group Inc. now owns 1,317,363 shares of the utilities provider’s stock worth $25,135,000 after acquiring an additional 212,213 shares during the period. 70.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Consolidated Communications Holdings, Inc. (NASDAQ CNSL) opened at $12.63 on Wednesday. The company has a debt-to-equity ratio of 4.61, a current ratio of 0.88 and a quick ratio of 0.88. Consolidated Communications Holdings, Inc. has a 12-month low of $12.54 and a 12-month high of $28.11. The stock has a market cap of $957.70, a P/E ratio of 38.63, a P/E/G ratio of 24.36 and a beta of 0.73.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Monday, January 15th will be given a dividend of $0.387 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.55 dividend on an annualized basis and a yield of 12.26%. Consolidated Communications’s dividend payout ratio (DPR) is -287.03%.

Several analysts have recently commented on CNSL shares. Jefferies Group reduced their target price on shares of Consolidated Communications from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. Zacks Investment Research downgraded shares of Consolidated Communications from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. ValuEngine downgraded shares of Consolidated Communications from a “hold” rating to a “sell” rating in a report on Wednesday, September 6th. Cowen restated a “hold” rating and set a $21.00 target price on shares of Consolidated Communications in a report on Thursday, October 19th. Finally, BidaskClub upgraded shares of Consolidated Communications from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Consolidated Communications currently has an average rating of “Hold” and a consensus target price of $22.00.

In other Consolidated Communications news, Director Wayne Wilson purchased 2,000 shares of Consolidated Communications stock in a transaction on Thursday, September 7th. The shares were purchased at an average cost of $17.75 per share, with a total value of $35,500.00. Following the completion of the transaction, the director now directly owns 46,211 shares in the company, valued at approximately $820,245.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Gerke bought 6,850 shares of Consolidated Communications stock in a transaction dated Tuesday, November 7th. The shares were purchased at an average cost of $14.63 per share, for a total transaction of $100,215.50. Following the completion of the transaction, the director now owns 12,667 shares of the company’s stock, valued at approximately $185,318.21. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 25,550 shares of company stock worth $387,553. 3.00% of the stock is currently owned by corporate insiders.

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About Consolidated Communications

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 (NASDAQ:CNSL)

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