Marshall Wace LLP purchased a new position in shares of Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 83,400 shares of the utilities provider's stock, valued at approximately $1,052,000. Marshall Wace LLP owned approximately 0.15% of Shenandoah Telecommunications as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gamco Investors INC. ET AL lifted its position in Shenandoah Telecommunications by 42.4% during the 4th quarter. Gamco Investors INC. ET AL now owns 225,000 shares of the utilities provider's stock worth $2,837,000 after acquiring an additional 67,000 shares in the last quarter. Gabelli Funds LLC lifted its position in Shenandoah Telecommunications by 3.5% during the 4th quarter. Gabelli Funds LLC now owns 149,000 shares of the utilities provider's stock worth $1,879,000 after acquiring an additional 5,000 shares in the last quarter. Walleye Capital LLC acquired a new position in Shenandoah Telecommunications during the 4th quarter worth approximately $330,000. Barclays PLC lifted its position in Shenandoah Telecommunications by 6.6% during the 4th quarter. Barclays PLC now owns 85,404 shares of the utilities provider's stock worth $1,078,000 after acquiring an additional 5,253 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Shenandoah Telecommunications by 66.7% during the 4th quarter. Invesco Ltd. now owns 239,856 shares of the utilities provider's stock worth $3,025,000 after acquiring an additional 96,006 shares in the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.
Shenandoah Telecommunications Stock Performance
Shares of SHEN opened at $13.02 on Wednesday. The business's 50 day moving average is $12.32 and its two-hundred day moving average is $12.60. Shenandoah Telecommunications has a 52-week low of $9.77 and a 52-week high of $21.89. The firm has a market cap of $714.23 million, a price-to-earnings ratio of 3.44 and a beta of 0.81. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.44.
Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.07). Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. The firm had revenue of $85.41 million during the quarter, compared to the consensus estimate of $89.65 million. Analysts forecast that Shenandoah Telecommunications will post -0.49 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have issued reports on SHEN. StockNews.com raised Shenandoah Telecommunications to a "sell" rating in a research report on Friday, April 11th. BWS Financial reaffirmed a "buy" rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Tuesday, February 25th.
Check Out Our Latest Stock Report on SHEN
About Shenandoah Telecommunications
(
Free Report)
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.
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