Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,899 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Shenandoah Telecommunications (NASDAQ:SHEN) by 17.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,944 shares of the utilities provider’s stock after acquiring an additional 1,899 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Shenandoah Telecommunications were worth $280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. American Century Companies Inc. raised its stake in 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. Charles Schwab Investment Management Inc. increased its holdings in shares of Shenandoah Telecommunications by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 709,168 shares of the utilities provider’s stock worth $14,616,000 after purchasing an additional 51,827 shares during the period. Illinois Municipal Retirement Fund acquired a new stake in shares of Shenandoah Telecommunications in the third quarter valued at approximately $650,000. Louisiana State Employees Retirement System bought a new stake in shares of Shenandoah Telecommunications in the fourth quarter valued at approximately $543,000. Finally, Versor Investments LP acquired a new stake in Shenandoah Telecommunications during the third quarter worth approximately $340,000. 61.96% of the stock is currently owned by institutional investors and hedge funds.

Shenandoah Telecommunications Price Performance

Shares of NASDAQ:SHEN opened at $13.47 on Monday. The firm has a 50 day moving average of $16.32 and a 200-day moving average of $19.71. Shenandoah Telecommunications has a 12 month low of $11.87 and a 12 month high of $25.51. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $679.56 million, a PE ratio of 3.11 and a beta of 0.61.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Shenandoah Telecommunications had a net margin of 2.80% and a return on equity of 1.24%. The business had revenue of $72.51 million for the quarter, compared to analysts’ expectations of $71.85 million. During the same period last year, the firm posted ($0.04) earnings per share. On average, equities research analysts predict that Shenandoah Telecommunications will post -0.05 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, BWS Financial raised Shenandoah Telecommunications from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Monday, March 4th.

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.