Visionary Wealth Advisors Sells 1,985 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)
Visionary Wealth Advisors reduced its position in Shenandoah Telecommunications (NASDAQ:SHEN – Free Report) by 7.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,390 shares of the utilities provider’s stock after selling 1,985 shares during the quarter. Visionary Wealth Advisors owned 0.05% of Shenandoah Telecommunications worth $571,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. RWA Wealth Partners LLC purchased a new position in shares of Shenandoah Telecommunications in the 4th quarter worth about $2,583,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Shenandoah Telecommunications by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,915 shares of the utilities provider’s stock worth $16,256,000 after purchasing an additional 42,747 shares in the last quarter. Norges Bank purchased a new position in shares of Shenandoah Telecommunications in the 4th quarter worth about $6,797,000. American Century Companies Inc. boosted its holdings in shares of Shenandoah Telecommunications by 25.6% in the 3rd quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock worth $9,172,000 after purchasing an additional 90,695 shares in the last quarter. Finally, Corton Capital Inc. boosted its holdings in Shenandoah Telecommunications by 23.7% during the 3rd quarter. Corton Capital Inc. now owns 23,881 shares of the utilities provider’s stock valued at $492,000 after acquiring an additional 4,582 shares during the period. 61.96% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Shenandoah Telecommunications
In other news, CEO Christopher E. French bought 11,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was purchased at an average price of $14.69 per share, with a total value of $161,590.00. Following the transaction, the chief executive officer now owns 319,750 shares of the company’s stock, valued at $4,697,127.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Christopher E. French bought 11,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was purchased at an average price of $14.69 per share, with a total value of $161,590.00. Following the transaction, the chief executive officer now owns 319,750 shares of the company’s stock, valued at $4,697,127.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher E. French bought 5,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was purchased at an average cost of $16.59 per share, with a total value of $82,950.00. Following the transaction, the chief executive officer now directly owns 324,750 shares in the company, valued at approximately $5,387,602.50. The disclosure for this purchase can be found here. In the last quarter, insiders bought 32,650 shares of company stock valued at $498,185. Corporate insiders own 4.37% of the company’s stock.
Shenandoah Telecommunications Trading Up 4.0 %
NASDAQ SHEN opened at $16.92 on Wednesday. Shenandoah Telecommunications has a fifty-two week low of $11.87 and a fifty-two week high of $25.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.68 and a current ratio of 4.68. The stock has a 50 day simple moving average of $16.14 and a two-hundred day simple moving average of $18.57. The stock has a market cap of $922.99 million, a P/E ratio of 3.91 and a beta of 0.72.
Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report) last released its quarterly earnings data on Friday, May 3rd. The utilities provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. The business had revenue of $69.25 million during the quarter, compared to analysts’ expectations of $71.52 million. On average, analysts forecast that Shenandoah Telecommunications will post -0.13 earnings per share for the current year.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. BWS Financial restated a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Monday, May 6th. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a report on Tuesday.
View Our Latest Report on Shenandoah Telecommunications
Shenandoah Telecommunications Profile
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. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.
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