Rhumbline Advisers increased its position in Shenandoah Telecommunications (NASDAQ: SHEN – Get Rating) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 158,922 shares of the utilities provider’s stock after acquiring an additional 4,841 shares during the quarter. Rhumbline Advisers owned about 0.32% of Shenandoah Telecommunications worth $ 4,053,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in SHEN. Goldman Sachs Group Inc. boosted its position in shares of Shenandoah Telecommunications by 167.5% in the third quarter. Goldman Sachs Group Inc. now owns 504,761 shares of the utilities provider’s stock valued at $ 15,940,000 after acquiring an additional 316,069 shares during the period. JPMorgan Chase & Co. raised its stake in Shenandoah Telecommunications by 91.6% during the 4th quarter. JPMorgan Chase & Co. now owns 500,729 shares of the utilities provider’s stock valued at $ 12,769,000 after purchasing an additional 239,376 shares during the last quarter. First Trust Advisors LP grew its position in Shenandoah Telecommunications by 543.7% in the 4th quarter. First Trust Advisors LP now owns 140,094 shares of the utilities provider’s stock worth $ 3,572,000 after purchasing an additional 118,331 shares during the last quarter. FMR LLC grew its position in Shenandoah Telecommunications by 13.5% in the 1st quarter. FMR LLC now owns 954,614 shares of the utilities provider’s stock worth $ 42,346,000 after purchasing an additional 113,516 shares during the last quarter. Finally, Assenagon Asset Management SA increased its holdings in shares of Shenandoah Telecommunications by 90.5% during the 4th quarter. Assenagon Asset Management SA now owns 171,609 shares of the utilities provider’s stock worth $ 4,376,000 after purchasing an additional 81,515 shares during the period. 55.57% of the stock is owned by hedge funds and other institutional investors.
Shares of SHEN stock opened at $ 22.96 on Wednesday. The stock’s fifty day simple moving average is $ 22.49 and its 200 day simple moving average is $ 23.43. Shenandoah Telecommunications has a one year low of $ 17.06 and a one year high of $ 61.53. The firm has a market cap of $ 1.15 billion, a price-to-earnings ratio of 1.21 and a beta of 0.39.
Shenandoah Telecommunications (NASDAQ: SHEN – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The utilities provider reported ($ 0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $ 0.04 by ($ 0.05). Shenandoah Telecommunications had a net margin of 378.97% and a return on equity of 1.64%. The company had revenue of $ 64.41 million for the quarter, compared to the consensus estimate of $ 62.72 million. During the same period in the previous year, the business posted $ 0.06 earnings per share. As a group, research analysts anticipate that Shenandoah Telecommunications will post 0.05 EPS for the current year.
A number of equities research analysts recently weighed in on SHEN shares. B. Riley downgraded Shenandoah Telecommunications from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $ 29.00 to $ 21.00 in a research report on Monday, May 2nd. They noted that the move was a valuation call. StockNews.com began coverage on Shenandoah Telecommunications in a research report on Thursday, March 31st. They set a “sell” rating on the stock. BWS Financial lowered Shenandoah Telecommunications from a “neutral” rating to a “sell” rating and cut their target price for the company from $ 26.25 to $ 16.00 in a research note on Wednesday, March 2nd. Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Thursday, May 5th. Finally, Raymond James upgraded shares of Shenandoah Telecommunications from an “outperform” rating to a “strong-buy” rating and set a $ 25.00 price objective for the company in a research note on Tuesday, May 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $ 20.67.
In other news, President Christopher E. French acquired 10,400 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The shares were purchased at an average cost of $ 19.37 per share, with a total value of $ 201,448.00. Following the completion of the purchase, the president now owns 200,426 shares of the company stock, valued at $ 3,882,251.62. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.04% of the stock is owned by insiders.
Shenandoah Telecommunications Profile: (Get Rating)
Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. Its Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky, via hybrid fiber coaxial cable under the Shentel brand, fiber optic services under the Glo Fiber brand, and fixed wireless network services under the Beam brand name.
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