American International Group Inc. lessened its position in Shenandoah Telecommunications (NASDAQ:SHEN) by 0.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,741 shares of the utilities provider’s stock after selling 238 shares during the period. American International Group Inc. owned approximately 0.06% of Shenandoah Telecommunications worth $1,360,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of SHEN. AltraVue Capital LLC bought a new stake in shares of Shenandoah Telecommunications in the 4th quarter worth $7,650,000. Prudential Financial Inc. raised its position in shares of Shenandoah Telecommunications by 72.3% during the fourth quarter. Prudential Financial Inc. now owns 341,143 shares of the utilities provider’s stock worth $15,095,000 after purchasing an additional 143,156 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of Shenandoah Telecommunications during the fourth quarter worth $5,541,000. Martingale Asset Management L P raised its position in shares of Shenandoah Telecommunications by 1,490.3% during the fourth quarter. Martingale Asset Management L P now owns 132,029 shares of the utilities provider’s stock worth $5,843,000 after purchasing an additional 123,727 shares during the period. Finally, BlackRock Inc. raised its position in shares of Shenandoah Telecommunications by 2.4% during the third quarter. BlackRock Inc. now owns 3,404,804 shares of the utilities provider’s stock worth $131,936,000 after purchasing an additional 81,378 shares during the period. 49.58% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Wednesday, March 13th. BidaskClub lowered Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research report on Wednesday, February 27th. B. Riley upped their price target on Shenandoah Telecommunications from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, March 1st. ValuEngine lowered Shenandoah Telecommunications from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Finally, BWS Financial reissued a “buy” rating on shares of Shenandoah Telecommunications in a research report on Monday, January 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $52.50.
NASDAQ SHEN traded up $0.12 on Friday, reaching $42.30. The stock had a trading volume of 352,979 shares, compared to its average volume of 133,775. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.37 and a quick ratio of 2.31. Shenandoah Telecommunications has a 1 year low of $29.92 and a 1 year high of $51.41. The company has a market capitalization of $2.11 billion, a P/E ratio of 45.48 and a beta of 0.48.
Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Thursday, February 28th. The utilities provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Shenandoah Telecommunications had a net margin of 6.88% and a return on equity of 10.05%. The firm had revenue of $161.48 million during the quarter, compared to analysts’ expectations of $160.76 million. On average, equities analysts anticipate that Shenandoah Telecommunications will post 1.35 EPS for the current year.
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Shenandoah Telecommunications Profile
Shenandoah Telecommunications Company, through its subsidiaries, primarily provides wireless, cable, and wireline telecommunications services to customers and other telecommunications providers. The company operates in three segments: Wireless, Cable, and Wireline. The Wireless segment provides digital wireless mobile services; and wireless mobility communications network products and services.
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