Louisiana State Employees Retirement System Makes New $162,000 Investment in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL)

Louisiana State Employees Retirement System bought a new position in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 37,300 shares of the utilities provider’s stock, valued at approximately $162,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CNSL. Ballentine Partners LLC purchased a new stake in Consolidated Communications in the 4th quarter valued at approximately $6,871,000. Assenagon Asset Management S.A. purchased a new stake in shares of Consolidated Communications in the fourth quarter valued at approximately $239,000. Kingswood Wealth Advisors LLC acquired a new position in Consolidated Communications during the fourth quarter worth $47,000. Vanguard Group Inc. raised its position in Consolidated Communications by 2.1% in the third quarter. Vanguard Group Inc. now owns 6,269,494 shares of the utilities provider’s stock worth $21,442,000 after acquiring an additional 128,005 shares in the last quarter. Finally, VitalStone Financial LLC acquired a new stake in Consolidated Communications in the third quarter valued at $177,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Consolidated Communications Price Performance

CNSL stock opened at $4.32 on Thursday. The company has a market cap of $511.62 million, a price-to-earnings ratio of -1.66 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.25. The firm has a 50 day moving average of $4.30 and a 200-day moving average of $4.31. Consolidated Communications Holdings, Inc. has a 12-month low of $2.93 and a 12-month high of $4.65.

Consolidated Communications (NASDAQ:CNSL) last issued its quarterly earnings data on Tuesday, March 5th. The utilities provider reported ($0.27) earnings per share (EPS) for the quarter. The firm had revenue of $275.18 million for the quarter. Consolidated Communications had a negative return on equity of 16.89% and a negative net margin of 22.53%.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Consolidated Communications in a report on Tuesday. They issued a “sell” rating for the company.

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.