Teachers Retirement System of The State of Kentucky Increases Stake in Consolidated Communications Holdings, Inc. (CNSL)

Teachers Retirement System of The State of Kentucky increased its position in shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 44.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,100 shares of the utilities provider’s stock after buying an additional 7,400 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Consolidated Communications were worth $460,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Consolidated Communications in the second quarter valued at about $127,000. QS Investors LLC grew its stake in Consolidated Communications by 17,467.6% in the second quarter. QS Investors LLC now owns 6,500 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 6,463 shares during the last quarter. Advisor Group Inc. grew its stake in Consolidated Communications by 28.7% in the second quarter. Advisor Group Inc. now owns 8,268 shares of the utilities provider’s stock valued at $167,000 after purchasing an additional 1,846 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in Consolidated Communications in the third quarter valued at about $194,000. Finally, State of Alaska Department of Revenue grew its stake in Consolidated Communications by 79.2% in 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 during the last quarter. Hedge funds and other institutional investors own 70.90% of the company’s stock.

In other Consolidated Communications news, Director Robert J. Currey purchased 3,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were acquired at an average price of $17.50 per share, for a total transaction of $52,500.00. Following the completion of the purchase, the director now owns 45,995 shares of the company’s stock, valued at $804,912.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas A. Gerke purchased 6,850 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were acquired at an average price of $14.63 per share, for a total transaction of $100,215.50. Following the purchase, the director now directly owns 12,667 shares of the company’s stock, valued at approximately $185,318.21. The disclosure for this purchase can be found here. Insiders have bought 27,550 shares of company stock worth $423,913 in the last 90 days. Insiders own 3.00% of the company’s stock.

Several equities analysts have issued reports on CNSL shares. Jefferies Group cut their target price on Consolidated Communications from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. Cowen reiterated a “hold” rating and issued a $21.00 target price on shares of Consolidated Communications in a research note on Thursday, October 19th. Zacks Investment Research lowered Consolidated Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. BidaskClub upgraded Consolidated Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Finally, ValuEngine lowered Consolidated Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $22.00.

Shares of Consolidated Communications Holdings, Inc. (NASDAQ CNSL) opened at $13.56 on Friday. Consolidated Communications Holdings, Inc. has a 52 week low of $13.04 and a 52 week high of $28.83. The firm has a market capitalization of $960.54, a PE ratio of 38.74, a PEG ratio of 24.43 and a beta of 0.75. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 4.61.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Monday, January 15th will be paid a dividend of $0.387 per share. The ex-dividend date is Thursday, January 11th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 11.42%. Consolidated Communications’s payout ratio is -287.03%.

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Consolidated Communications Company Profile

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.

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

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