Two Sigma Investments LP Makes New Investment in Shenandoah Telecommunications (NASDAQ:SHEN)

Two Sigma Investments LP acquired a new stake in Shenandoah Telecommunications (NASDAQ:SHEN) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 10,031 shares of the utilities provider’s stock, valued at approximately $126,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SHEN. ProShare Advisors LLC increased its holdings in Shenandoah Telecommunications by 44.7% in the fourth quarter. ProShare Advisors LLC now owns 14,622 shares of the utilities provider’s stock valued at $184,000 after buying an additional 4,517 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in Shenandoah Telecommunications during the 4th quarter worth about $175,000. Numerai GP LLC acquired a new position in shares of Shenandoah Telecommunications during the 4th quarter worth about $518,000. Millennium Management LLC increased its holdings in shares of Shenandoah Telecommunications by 28.8% in the 4th quarter. Millennium Management LLC now owns 302,755 shares of the utilities provider’s stock valued at $3,818,000 after acquiring an additional 67,715 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Shenandoah Telecommunications by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider’s stock valued at $349,000 after acquiring an additional 1,061 shares during the last quarter. 61.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SHEN. Wall Street Zen upgraded Shenandoah Telecommunications to a “sell” rating in a research note on Thursday, May 8th. BWS Financial reissued a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, May 1st.

Insiders Place Their Bets

In other Shenandoah Telecommunications news, major shareholder Ecp Controlco, Llc bought 36,238 shares of Shenandoah Telecommunications stock in a transaction dated Monday, June 2nd. The stock was acquired at an average cost of $12.58 per share, with a total value of $455,874.04. Following the completion of the acquisition, the insider now owns 2,599,274 shares of the company’s stock, valued at approximately $32,698,866.92. This represents a 1.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ecp Fiber Holdings Gp, Llc bought 9,500 shares of the firm’s stock in a transaction dated Monday, June 9th. The shares were acquired at an average price of $13.75 per share, with a total value of $130,625.00. Following the purchase, the insider now directly owns 2,679,421 shares of the company’s stock, valued at approximately $36,842,038.75. This trade represents a 0.36% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 227,037 shares of company stock valued at $2,868,844 over the last quarter. Company insiders own 4.51% of the company’s stock.

Shenandoah Telecommunications Price Performance

Shares of SHEN opened at $13.88 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.79. Shenandoah Telecommunications has a 1-year low of $9.77 and a 1-year high of $21.89. The stock has a market cap of $761.42 million, a PE ratio of 3.66 and a beta of 0.87. The firm has a fifty day moving average price of $12.36 and a 200 day moving average price of $12.27.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The firm had revenue of $87.90 million during the quarter, compared to analysts’ expectations of $89.31 million. Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. During the same period in the previous year, the firm posted ($0.07) earnings per share. As a group, sell-side analysts anticipate that Shenandoah Telecommunications will post -0.49 EPS for the current year.

About Shenandoah Telecommunications

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.