JPMorgan Chase & Co. Buys 910,470 Shares of Consolidated Communications Holdings, Inc. (CNSL)

JPMorgan Chase & Co. lifted its stake in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 619,367.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 910,617 shares of the utilities provider’s stock after purchasing an additional 910,470 shares during the quarter. JPMorgan Chase & Co. owned about 1.29% of Consolidated Communications worth $17,758,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Hanson McClain Inc. grew its position in Consolidated Communications by 0.3% in the second quarter. Hanson McClain Inc. now owns 12,421 shares of the utilities provider’s stock worth $267,000 after acquiring an additional 38 shares during the period. Arizona State Retirement System grew its position in Consolidated Communications by 0.4% in the second quarter. Arizona State Retirement System now owns 26,462 shares of the utilities provider’s stock worth $568,000 after acquiring an additional 100 shares during the period. The Manufacturers Life Insurance Company grew its position in Consolidated Communications by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 38,454 shares of the utilities provider’s stock worth $826,000 after acquiring an additional 303 shares during the period. ETRADE Capital Management LLC grew its position in Consolidated Communications by 2.5% in the second quarter. ETRADE Capital Management LLC now owns 14,603 shares of the utilities provider’s stock worth $314,000 after acquiring an additional 362 shares during the period. Finally, Texas Permanent School Fund grew its position in Consolidated Communications by 1.6% in the second quarter. Texas Permanent School Fund now owns 25,113 shares of the utilities provider’s stock worth $539,000 after acquiring an additional 401 shares during the period. 70.83% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Thomas A. Gerke purchased 6,850 shares of the stock in a transaction dated Tuesday, November 7th. The stock was acquired 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 directly owns 12,667 shares in the company, valued at approximately $185,318.21. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert J. Currey purchased 5,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average price of $13.43 per share, with a total value of $67,150.00. Following the completion of the transaction, the director now owns 45,995 shares of the company’s stock, valued at $617,712.85. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 17,550 shares of company stock valued at $247,203. Company insiders own 3.00% of the company’s stock.

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

Consolidated Communications Holdings, Inc. (NASDAQ CNSL) opened at $12.70 on Monday. Consolidated Communications Holdings, Inc. has a 52-week low of $12.07 and a 52-week high of $28.11. The company has a market capitalization of $899.62, a price-to-earnings ratio of 36.29, a PEG ratio of 22.88 and a beta of 0.73. The company has a debt-to-equity ratio of 4.61, a quick ratio of 0.88 and a current ratio of 0.88.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders 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 annualized dividend and a dividend yield of 12.19%. Consolidated Communications’s dividend payout ratio is currently -287.03%.

COPYRIGHT VIOLATION WARNING: This story was originally posted by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this story on another domain, it was stolen and republished in violation of US and international trademark and copyright law. The original version of this story can be accessed at https://sportsperspectives.com/2017/12/18/jpmorgan-chase-co-buys-910470-shares-of-consolidated-communications-holdings-inc-cnsl.html.

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.

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

Receive News & Ratings for Consolidated Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Communications and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply