Shenandoah Telecommunications (NASDAQ:SHEN) Shares Bought by Millennium Management LLC

Millennium Management LLC lifted its holdings in Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 28.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 302,755 shares of the utilities provider's stock after purchasing an additional 67,715 shares during the period. Millennium Management LLC owned about 0.55% of Shenandoah Telecommunications worth $3,818,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in shares of Shenandoah Telecommunications by 456.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider's stock worth $53,000 after acquiring an additional 3,531 shares in the last quarter. DAVENPORT & Co LLC grew its position in Shenandoah Telecommunications by 16.1% during the 4th quarter. DAVENPORT & Co LLC now owns 1,012,685 shares of the utilities provider's stock worth $12,770,000 after purchasing an additional 140,314 shares during the last quarter. Barclays PLC grew 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 purchasing an additional 5,253 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Shenandoah Telecommunications during the 4th quarter worth approximately $260,000. Finally, Rhumbline Advisers boosted its holdings in shares of Shenandoah Telecommunications by 4.1% in the 4th quarter. Rhumbline Advisers now owns 150,079 shares of the utilities provider's stock valued at $1,892,000 after acquiring an additional 5,862 shares during the last quarter. Institutional investors own 61.96% of the company's stock.

Analysts Set New Price Targets

SHEN has been the topic of several recent research reports. BWS Financial reaffirmed a "buy" rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, May 1st. Wall Street Zen raised shares of Shenandoah Telecommunications to a "sell" rating in a report on Thursday, May 8th.

Insider Activity

In other news, major shareholder Ecp Fiber Holdings Gp, Llc bought 20,045 shares of Shenandoah Telecommunications stock in a transaction that occurred on Wednesday, May 28th. The shares were purchased at an average price of $12.30 per share, with a total value of $246,553.50. Following the completion of the acquisition, the insider now directly owns 2,500,697 shares in the company, valued at $30,758,573.10. The trade was a 0.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.51% of the company's stock.

Shenandoah Telecommunications Trading Up 0.1%

Shares of SHEN traded up $0.01 during mid-day trading on Monday, reaching $12.59. The stock had a trading volume of 159,153 shares, compared to its average volume of 248,560. 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 52-week low of $9.77 and a 52-week high of $21.89. The business's fifty day moving average is $12.28 and its 200 day moving average is $12.23. The firm has a market cap of $690.65 million, a price-to-earnings ratio of 3.32 and a beta of 0.82.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced 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 company had revenue of $87.90 million for the quarter, compared to analysts' expectations of $89.31 million. Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. During the same period last year, the business earned ($0.07) EPS. On average, sell-side analysts predict that Shenandoah Telecommunications will post -0.49 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.