Consolidated Communications (NASDAQ:CNSL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Consolidated Communications Holdings, Inc. offers a wide range of telecommunications services including local and long distance telephone, Digital Phone, High-Speed Internet access and Digital TV to individuals and businesses in Illinois, Pennsylvania, and Texas. The company also offers telephone directory publishing services, wholesale transport services, billing and collection services, inside wiring services, and maintenance services. Consolidated Communications Holdings, Inc. is headquartered in Mattoon, Illinois. “
CNSL has been the topic of a number of other research reports. Drexel Hamilton upgraded shares of Consolidated Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, January 2nd. They noted that the move was a valuation call. ValuEngine cut shares of Consolidated Communications from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Finally, Jefferies Group cut their price objective on shares of Consolidated Communications from $21.00 to $19.00 and set a “hold” rating for the company in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and two have given a strong buy rating to the company. Consolidated Communications currently has a consensus rating of “Hold” and a consensus target price of $22.00.
A number of institutional investors and hedge funds have recently made changes to their positions in CNSL. Goldentree Asset Management LP purchased a new stake in Consolidated Communications during the 4th quarter valued at approximately $11,537,000. JPMorgan Chase & Co. grew its holdings in Consolidated Communications by 619,367.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 910,617 shares of the utilities provider’s stock valued at $17,758,000 after buying an additional 910,470 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Consolidated Communications by 56.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,289,101 shares of the utilities provider’s stock valued at $27,903,000 after buying an additional 825,776 shares in the last quarter. Private Management Group Inc. grew its holdings in Consolidated Communications by 62.1% during the 4th quarter. Private Management Group Inc. now owns 2,135,922 shares of the utilities provider’s stock valued at $26,037,000 after buying an additional 818,559 shares in the last quarter. Finally, Sirios Capital Management L P grew its holdings in Consolidated Communications by 263.4% during the 4th quarter. Sirios Capital Management L P now owns 1,007,859 shares of the utilities provider’s stock valued at $12,286,000 after buying an additional 730,515 shares in the last quarter. 78.00% of the stock is owned by institutional investors and hedge funds.
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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.
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