Swiss National Bank Trims Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Swiss National Bank trimmed its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 10.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,072 shares of the utilities provider’s stock after selling 10,800 shares during the period. Swiss National Bank owned 0.19% of Shenandoah Telecommunications worth $2,034,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. RWA Wealth Partners LLC purchased a new position in shares of Shenandoah Telecommunications in the fourth quarter valued at about $2,583,000. Illinois Municipal Retirement Fund bought a new position in Shenandoah Telecommunications in the 3rd quarter worth approximately $650,000. American Century Companies Inc. grew its holdings in Shenandoah Telecommunications by 25.6% during the 3rd quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock valued at $9,172,000 after buying an additional 90,695 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 valued at $14,616,000 after buying an additional 51,827 shares during the last quarter. Finally, Corton Capital Inc. lifted its holdings in shares of Shenandoah Telecommunications by 23.7% in the third quarter. Corton Capital Inc. now owns 23,881 shares of the utilities provider’s stock worth $492,000 after buying an additional 4,582 shares in the last quarter. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Insider Activity

In other news, SVP Richard W. Mason, Jr. purchased 2,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were acquired at an average cost of $14.73 per share, with a total value of $29,460.00. Following the completion of the acquisition, the senior vice president now owns 14,501 shares of the company’s stock, valued at $213,599.73. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Edward H. Mckay purchased 10,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were acquired at an average price of $14.95 per share, for a total transaction of $149,500.00. Following the purchase, the chief operating officer now owns 66,951 shares in the company, valued at $1,000,917.45. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Richard W. Mason, Jr. bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average price of $14.73 per share, for a total transaction of $29,460.00. Following the transaction, the senior vice president now owns 14,501 shares of the company’s stock, valued at $213,599.73. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 24,463 shares of company stock worth $363,095. Corporate insiders own 4.37% of the company’s stock.

Shenandoah Telecommunications Price Performance

Shenandoah Telecommunications stock opened at $17.82 on Friday. The firm’s fifty day moving average is $15.97 and its 200 day moving average is $19.10. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.33. The company has a market cap of $972.08 million, a price-to-earnings ratio of 4.12 and a beta of 0.61. Shenandoah Telecommunications has a 52-week low of $11.87 and a 52-week high of $25.51.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Friday, May 3rd. The utilities provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. The firm had revenue of $69.25 million for the quarter, compared to analysts’ expectations of $71.52 million. Sell-side analysts forecast that Shenandoah Telecommunications will post -0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SHEN shares. BWS Financial reiterated a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a report on Monday, May 6th. StockNews.com raised Shenandoah Telecommunications to a “sell” rating in a report on Thursday.

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.