Avantax Advisory Services Inc. Sells 810 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

Avantax Advisory Services Inc. lessened its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,140 shares of the utilities provider’s stock after selling 810 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Shenandoah Telecommunications were worth $262,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Shenandoah Telecommunications by 17.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,045 shares of the utilities provider’s stock valued at $228,000 after buying an additional 1,674 shares during the last quarter. Versor Investments LP purchased a new stake in Shenandoah Telecommunications in the 3rd quarter worth $340,000. Illinois Municipal Retirement Fund bought a new position in shares of Shenandoah Telecommunications during the 3rd quarter valued at about $650,000. Swiss National Bank grew its position in shares of Shenandoah Telecommunications by 1.0% during the third quarter. Swiss National Bank now owns 104,872 shares of the utilities provider’s stock valued at $2,161,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Shenandoah Telecommunications by 7.9% in 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 last quarter. 61.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SHEN. StockNews.com raised Shenandoah Telecommunications to a “sell” rating in a research note on Thursday. BWS Financial reiterated a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Monday, May 6th.

Insider Activity

In related news, COO Edward H. Mckay purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average cost of $14.95 per share, for a total transaction of $149,500.00. Following the completion of the transaction, the chief operating officer now directly owns 66,951 shares in the company, valued at $1,000,917.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Edward H. Mckay bought 10,000 shares of Shenandoah Telecommunications stock in a transaction dated Tuesday, May 7th. The shares were acquired at an average price of $14.95 per share, with a total value of $149,500.00. Following the completion of the purchase, the chief operating officer now owns 66,951 shares in the company, valued at approximately $1,000,917.45. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Richard W. Mason, Jr. bought 2,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was purchased at an average price of $14.73 per share, with a total value of $29,460.00. Following the acquisition, the senior vice president now directly owns 14,501 shares in the company, valued at approximately $213,599.73. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 24,463 shares of company stock valued at $363,095. 4.37% of the stock is currently owned by insiders.

Shenandoah Telecommunications Stock Up 0.6 %

Shares of NASDAQ SHEN opened at $17.82 on Friday. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.33. Shenandoah Telecommunications has a 12-month low of $11.87 and a 12-month high of $25.51. The firm’s 50-day moving average price is $15.97 and its 200-day moving average price is $19.07. The stock has a market capitalization of $972.08 million, a price-to-earnings ratio of 4.12 and a beta of 0.61.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued 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). The company had revenue of $69.25 million for the quarter, compared to the consensus estimate of $71.52 million. Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. On average, equities research analysts anticipate that Shenandoah Telecommunications will post -0.13 EPS for the current fiscal year.

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.