Harvey Partners Lowers stake in Communications Sales & Leasing Inc (CSAL)

Communications Sales & Leasing Inc (CSAL) : Harvey Partners reduced its stake in Communications Sales & Leasing Inc by 21.43% during the most recent quarter end. The investment management company now holds a total of 137,500 shares of Communications Sales & Leasing Inc which is valued at $4,166,250 after selling 37,500 shares in Communications Sales & Leasing Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Communications Sales & Leasing Inc makes up approximately 4.00% of Harvey Partners’s portfolio.

Other Hedge Funds, Including , Cssil reduced its stake in CSAL by selling 1,600 shares or 10.08% in the most recent quarter. The Hedge Fund company now holds 14,273 shares of CSAL which is valued at $432,472. Communications Sales & Leasing Inc makes up approx 0.06% of Cssil’s portfolio.Oppenheimerfunds reduced its stake in CSAL by selling 599,179 shares or 26.21% in the most recent quarter. The Hedge Fund company now holds 1,686,535 shares of CSAL which is valued at $51,102,011. Communications Sales & Leasing Inc makes up approx 0.06% of Oppenheimerfunds’s portfolio.

Communications Sales & Leasing Inc opened for trading at $31.11 and hit $31.59 on the upside on Thursday, eventually ending the session at $31.33, with a gain of 0.42% or 0.13 points. The heightened volatility saw the trading volume jump to 29,33,728 shares. Company has a market cap of $4,822 M.

On the company’s financial health, Communications Sales & Leasing Inc reported $0.63 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 11, 2016. Analyst had a consensus of $0.65. The company had revenue of $188.57 million for the quarter, compared to analysts expectations of $188.53 million. The company’s revenue was up 46.5% compared to the same quarter last year.

Investors should note that on Aug 9, 2016, Communications Sales & Leasing Inc announced a cash dividend of $0.6000. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 14, 2016.

Many Wall Street Analysts have commented on Communications Sales & Leasing Inc. Communications Sales & Leasing Inc was Resumed by Citigroup to “Buy” on Jul 5, 2016.

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 Company’s 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.

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