Cooper Investors PTY Ltd. Sells 460,209 Shares of Shenandoah Telecommunications Co $SHEN

Key Points

• Cooper Investors PTY Ltd. cut its Shenandoah Telecommunications stake by 49.5%, selling 460,209 shares in the third quarter and retaining 469,934 shares worth about $5.27 million.
• Institutional ownership stands at 61.96%, with several major investors—including BlackRock—establishing new positions during the second quarter.
• SHEN shares recently traded at $10.52, near the lower end of their 12-month range. Analysts have an average “Hold” rating and a $27.50 price target, while the company reported better-than-expected quarterly revenue and earnings.

Cooper Investors PTY Ltd. decreased its holdings in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN - Free Report) by 49.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 469,934 shares of the utilities provider's stock after selling 460,209 shares during the period. Shenandoah Telecommunications makes up about 2.8% of Cooper Investors PTY Ltd.'s portfolio, making the stock its 11th largest position. Cooper Investors PTY Ltd. owned approximately 0.85% of Shenandoah Telecommunications worth $5,273,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Legal & General Group Plc bought a new stake in shares of Shenandoah Telecommunications during the second quarter worth about $1,538,000. Bank of New York Mellon Corp acquired a new stake in shares of Shenandoah Telecommunications in the 2nd quarter worth about $4,041,000. Empowered Funds LLC acquired a new stake in shares of Shenandoah Telecommunications in the 2nd quarter worth about $3,974,000. BlackRock Inc. bought a new position in Shenandoah Telecommunications in the 2nd quarter valued at about $106,907,000. Finally, Bank of America Corp DE bought a new position in Shenandoah Telecommunications in the 2nd quarter valued at about $1,050,000. 61.96% of the stock is owned by institutional investors.

Shenandoah Telecommunications Stock Down 0.2%

Shares of SHEN stock traded down $0.02 on Tuesday, hitting $10.52. The stock had a trading volume of 577,642 shares, compared to its average volume of 462,868. The business has a 50 day moving average of $12.14 and a 200 day moving average of $13.85. The stock has a market cap of $582.44 million, a price-to-earnings ratio of -13.49 and a beta of 0.76. 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 12-month low of $9.66 and a 12-month high of $17.34.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share for the quarter, beating 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 company had revenue of $93.46 million for the quarter, compared to analyst estimates of $92.83 million. As a group, analysts expect that Shenandoah Telecommunications Co will post -0.85 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BWS Financial reiterated a "buy" rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Thursday, July 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Shenandoah Telecommunications in a research note on Friday, July 31st. Finally, Wall Street Zen upgraded Shenandoah Telecommunications from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Shenandoah Telecommunications presently has an average rating of "Hold" and an average price target of $27.50.

Insider Buying and Selling

In other news, CFO James Volk bought 4,283 shares of the company's stock in a transaction on Friday, July 31st. The shares were purchased at an average price of $11.67 per share, with a total value of $49,982.61. Following the transaction, the chief financial officer directly owned 92,671 shares in the company, valued at $1,081,470.57. This represents a 4.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.01% of the company's stock.

Shenandoah Telecommunications Profile

Shenandoah Telecommunications Company, doing business as Shentel, is a telecommunications provider headquartered in Edinburg, Virginia. The company builds and operates broadband networks serving residential, business and institutional customers in communities across the Mid-Atlantic, including portions of Virginia, West Virginia, Maryland and Pennsylvania.

Shentel provides high-speed internet, digital video and voice services through its Glo Fiber and traditional cable broadband networks.

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