Shenandoah Telecommunications (NASDAQ:SHEN) Stake Lessened by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its position in Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 42.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 136,038 shares of the utilities provider's stock after selling 101,670 shares during the period. Nuveen Asset Management LLC owned approximately 0.25% of Shenandoah Telecommunications worth $1,715,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Shenandoah Telecommunications by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider's stock valued at $349,000 after purchasing an additional 1,061 shares during the period. Nebula Research & Development LLC lifted its stake in shares of Shenandoah Telecommunications by 5.5% in the fourth quarter. Nebula Research & Development LLC now owns 22,076 shares of the utilities provider's stock valued at $278,000 after purchasing an additional 1,147 shares during the period. PAX Financial Group LLC lifted its stake in shares of Shenandoah Telecommunications by 3.8% in the fourth quarter. PAX Financial Group LLC now owns 37,118 shares of the utilities provider's stock valued at $468,000 after purchasing an additional 1,353 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Shenandoah Telecommunications by 11.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,735 shares of the utilities provider's stock valued at $173,000 after purchasing an additional 1,380 shares during the period. Finally, LPL Financial LLC lifted its stake in shares of Shenandoah Telecommunications by 5.9% in the fourth quarter. LPL Financial LLC now owns 38,461 shares of the utilities provider's stock valued at $485,000 after purchasing an additional 2,143 shares during the period. Institutional investors and hedge funds own 61.96% of the company's stock.

Wall Street Analyst Weigh In

SHEN has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Shenandoah Telecommunications to a "sell" rating in a research note on Thursday, May 8th. BWS Financial restated a "buy" rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Thursday, May 1st.

Shenandoah Telecommunications Price Performance

NASDAQ:SHEN traded up $0.37 during mid-day trading on Thursday, hitting $13.23. 225,550 shares of the company's stock traded hands, compared to its average volume of 250,388. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.79 and a current ratio of 0.82. The firm's 50 day simple moving average is $12.26 and its 200 day simple moving average is $12.24. Shenandoah Telecommunications has a 1 year low of $9.77 and a 1 year high of $21.89. The company has a market cap of $725.76 million, a PE ratio of 3.49 and a beta of 0.82.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) 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). Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. The business had revenue of $87.90 million for the quarter, compared to analysts' expectations of $89.31 million. During the same quarter last year, the business posted ($0.07) earnings per share. Sell-side analysts expect that Shenandoah Telecommunications will post -0.49 EPS for the current year.

Insider Transactions at Shenandoah Telecommunications

In other news, major shareholder Ecp Controlco, Llc purchased 36,238 shares of the stock in a transaction dated Monday, June 2nd. The stock was acquired at an average cost of $12.58 per share, for a total transaction of $455,874.04. Following the completion of the acquisition, the insider now directly owns 2,599,274 shares in the company, valued at $32,698,866.92. This represents a 1.41% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ecp Fiber Holdings Gp, Llc purchased 30,339 shares of the stock in a transaction dated Friday, May 30th. The shares were purchased at an average price of $12.55 per share, with a total value of $380,754.45. Following the completion of the acquisition, the insider now owns 2,563,036 shares of the company's stock, valued at approximately $32,166,101.80. This represents a 1.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 173,513 shares of company stock worth $2,160,679 over the last ninety days. 4.51% of the stock is currently owned by corporate insiders.

Shenandoah Telecommunications Company 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.