Shenandoah Telecommunications (NASDAQ:SHEN) Shares Sold by Broad Run Investment Management LLC
Broad Run Investment Management LLC trimmed its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN – Free Report) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 977,368 shares of the utilities provider’s stock after selling 36,126 shares during the quarter. Shenandoah Telecommunications accounts for approximately 2.8% of Broad Run Investment Management LLC’s portfolio, making the stock its 15th largest holding. Broad Run Investment Management LLC owned about 1.94% of Shenandoah Telecommunications worth $21,131,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in SHEN. GAMMA Investing LLC acquired a new position in Shenandoah Telecommunications during the fourth quarter worth about $27,000. Quest Partners LLC acquired a new position in Shenandoah Telecommunications during the fourth quarter worth about $41,000. HTLF Bank acquired a new position in Shenandoah Telecommunications during the fourth quarter worth about $203,000. Victory Capital Management Inc. acquired a new position in Shenandoah Telecommunications during the fourth quarter worth about $236,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Shenandoah Telecommunications by 17.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,944 shares of the utilities provider’s stock worth $280,000 after buying an additional 1,899 shares during the period. 61.96% of the stock is currently owned by institutional investors and hedge funds.
Shenandoah Telecommunications Stock Performance
Shares of SHEN opened at $16.17 on Friday. 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 company has a market capitalization of $882.07 million, a price-to-earnings ratio of 3.73 and a beta of 0.72. The company’s 50 day simple moving average is $16.13 and its 200 day simple moving average is $18.54. Shenandoah Telecommunications has a 1 year low of $11.87 and a 1 year high of $25.51.
Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report) last announced its quarterly earnings data on Friday, May 3rd. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $69.25 million for the quarter, compared to analysts’ expectations of $71.52 million. Shenandoah Telecommunications had a net margin of 77.44% and a return on equity of 0.27%. On average, sell-side analysts predict that Shenandoah Telecommunications will post -0.13 EPS for the current year.
Analyst Upgrades and Downgrades
Several analysts have issued reports on SHEN shares. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a report on Tuesday. BWS Financial reaffirmed a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a report on Monday, May 6th.
Check Out Our Latest Report on SHEN
Insider Activity at Shenandoah Telecommunications
In other news, CEO Christopher E. French acquired 11,000 shares of Shenandoah Telecommunications stock in a transaction that occurred on Tuesday, May 7th. The shares were acquired at an average price of $14.69 per share, with a total value of $161,590.00. Following the completion of the purchase, the chief executive officer now owns 319,750 shares of the company’s stock, valued at approximately $4,697,127.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Christopher E. French purchased 11,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average price of $14.69 per share, with a total value of $161,590.00. Following the completion of the purchase, the chief executive officer now directly owns 319,750 shares in the company, valued at approximately $4,697,127.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher E. French purchased 5,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were bought at an average cost of $16.59 per share, for a total transaction of $82,950.00. Following the purchase, the chief executive officer now owns 324,750 shares of the company’s stock, valued at $5,387,602.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 32,650 shares of company stock valued at $498,185. Company insiders own 4.37% of the company’s stock.
Shenandoah Telecommunications Company 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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