Will Fiberoptic And 5G Networks Provide Growth Opportunities for Consolidated Communications (CNSL)?
Bonhoeffer Capital Management, an asset management company, released its third-quarter 2023 investor letter. A copy of the same can be downloaded here. In industries experiencing economic downturns, Bonhoeffer Fund has replaced slower-growing companies with superior, expanding corporations and is still seeking out comparable prospects. The United States, South Korea, the United Kingdom, Canada, South Africa, and the Philippines were the countries to which the firm had the greatest exposure as of September 30, 2023. Consumer products, telecom/media, real estate/infrastructure, and distribution were the industries with the biggest exposures. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Bonhoeffer Capital Management highlighted stocks like Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) in the third quarter 2023 investor letter. Based in Mattoon, Illinois, Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) offers broadband and business communication solutions. On January 2, 2024, Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) stock closed at $4.36 per share. One-month return of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) was 1.40%, and its shares gained 14.14% of their value over the last 52 weeks. Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) has a market capitalization of $ 506.597 million.
In its Q3 2023 investor letter, Bonhoeffer Capital Management stated the following regarding Consolidated Communications Holdings, Inc. (NASDAQ:CNSL):
"Within this theme, the increasing use of transaction processing in the markets of our respective firms- as well as the rollout of fiberoptic and 5G networks-is providing growth opportunities. Given that most of these firms are holding companies and have multiple components of value (including real estate), the timeline for realization may be longer than for more mono-industry-focused firms. We are seeing event driven situations unfold in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) and Millicom. With CNSL, there has been an increase in the revised Searchlight offer to $4.70 per share to be paid in Q1 2025. Some shareholders have publicly stated $4.70 is still too low (we think so), and we have had some discussions with proxy firms stating our case."
A technician setting up a tower to improve the city’s broadband coverage.
Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) at the end of third quarter which was 14 in the previous quarter.
We discussed Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) in another article and shared Bonhoeffer Capital Management’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
