Broad Run Investment Management LLC bought a new stake in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 658,567 shares of the utilities provider's stock, valued at approximately $9,931,000. Shenandoah Telecommunications accounts for approximately 1.5% of Broad Run Investment Management LLC's investment portfolio, making the stock its 18th largest holding. Broad Run Investment Management LLC owned 1.19% of Shenandoah Telecommunications as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of SHEN. Gabelli Funds LLC increased its holdings in shares of Shenandoah Telecommunications by 31.1% in the fourth quarter. Gabelli Funds LLC now owns 198,530 shares of the utilities provider's stock worth $2,295,000 after acquiring an additional 47,100 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of Shenandoah Telecommunications in the 2nd quarter valued at approximately $808,000. BlackRock Inc. bought a new stake in Shenandoah Telecommunications during the 2nd quarter worth approximately $106,907,000. Visionary Wealth Advisors acquired a new stake in Shenandoah Telecommunications during the 2nd quarter worth approximately $642,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Shenandoah Telecommunications in the second quarter valued at approximately $256,000. Institutional investors and hedge funds own 61.96% of the company's stock.
Shenandoah Telecommunications Trading Down 0.2%
Shares of SHEN opened at $12.30 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.85. Shenandoah Telecommunications Co has a 1-year low of $9.66 and a 1-year high of $17.34. The company has a market capitalization of $680.99 million, a P/E ratio of -15.77 and a beta of 0.68. The firm's 50 day simple moving average is $13.04 and its 200 day simple moving average is $14.34.
Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The utilities provider reported ($0.17) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.11. Shenandoah Telecommunications had a negative net margin of 10.83% and a negative return on equity of 4.54%. The firm had revenue of $93.46 million for the quarter, compared to analyst estimates of $92.83 million. Sell-side analysts forecast that Shenandoah Telecommunications Co will post -0.85 earnings per share for the current fiscal year.
Insider Activity at Shenandoah Telecommunications
In other Shenandoah Telecommunications news, CFO James J. Volk purchased 4,283 shares of Shenandoah Telecommunications stock in a transaction on Friday, July 31st. The shares were acquired at an average cost of $11.67 per share, for a total transaction of $49,982.61. Following the completion of the transaction, the chief financial officer directly owned 92,671 shares of the company's stock, valued at approximately $1,081,470.57. The trade was a 4.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 5.01% of the company's stock.
Analysts Set New Price Targets
SHEN has been the topic of several research analyst reports. BWS Financial reissued a "buy" rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Thursday, July 30th. Wall Street Zen upgraded Shenandoah Telecommunications from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Shenandoah Telecommunications in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Shenandoah Telecommunications currently has an average rating of "Hold" and a consensus target price of $27.50.
View Our Latest Report on Shenandoah Telecommunications
Shenandoah Telecommunications Profile
(
Free Report)
Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.
In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.
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