Communications Sales & Leasing (CSAL) : Traders are bullish on Communications Sales & Leasing (CSAL) as it has outperformed the S&P 500 by a margin of 2.88% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.82%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.44% in the last 1 week, and is up 9.83% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Communications Sales & Leasing (NASDAQ:CSAL): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $30.68 and $30.65 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $31.24. The buying momentum continued till the end and the stock did not give up its gains. It closed at $31.05, notching a gain of 1.34% for the day. The total traded volume was 1,062,592 . The stock had closed at $30.64 on the previous day.
The stock has recorded a 20-day Moving Average of 5.16% and the 50-Day Moving Average is 15.8%. Communications Sales & Leasing, Inc. is up 32.61% in the last 3-month period. Year-to-Date the stock performance stands at 74.78%.
Communications Sales & Leasing, Inc. (CS&L) is engaged in the ownership, acquisition and leasing of communication distribution systems. The Company holds the fiber and copper networks and other real estate (the Distribution Systems) and a small consumer competitive local exchange carrier (CLEC) business (the Consumer CLEC Business). The Companys leasing activities consists of leasing back to Windstream Holdings, Inc., the Distribution Systems through a triple-net master lease agreement (the Master Lease). The Company also expands its portfolio by acquiring other real property assets within or outside of the communications infrastructure industry for lease to third-parties.