Private Advisor Group LLC Acquires 61,825 Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN)

Private Advisor Group LLC raised its position in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN - Free Report) by 32.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 250,471 shares of the utilities provider's stock after purchasing an additional 61,825 shares during the period. Private Advisor Group LLC owned 0.46% of Shenandoah Telecommunications worth $3,148,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS bought a new stake in shares of Shenandoah Telecommunications during the 4th quarter worth about $101,000. Two Sigma Investments LP bought a new stake in shares of Shenandoah Telecommunications during the 4th quarter worth about $126,000. Tower Research Capital LLC TRC raised its position in shares of Shenandoah Telecommunications by 11.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,735 shares of the utilities provider's stock worth $173,000 after buying an additional 1,380 shares in the last quarter. Quantinno Capital Management LP bought a new stake in shares of Shenandoah Telecommunications during the 4th quarter worth about $175,000. Finally, ProShare Advisors LLC raised its position in shares of Shenandoah Telecommunications by 44.7% during the 4th quarter. ProShare Advisors LLC now owns 14,622 shares of the utilities provider's stock worth $184,000 after buying an additional 4,517 shares in the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.

Shenandoah Telecommunications Trading Down 1.5%

Shares of SHEN stock traded down $0.23 during trading hours on Friday, reaching $15.17. 209,095 shares of the stock traded hands, compared to its average volume of 300,974. Shenandoah Telecommunications Co has a 1-year low of $9.77 and a 1-year high of $21.89. The business has a fifty day moving average price of $13.72 and a 200 day moving average price of $12.57. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $832.18 million, a PE ratio of -24.87 and a beta of 0.89.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.05). Shenandoah Telecommunications had a negative net margin of 10.07% and a negative return on equity of 3.18%. The company had revenue of $87.90 million for the quarter, compared to analysts' expectations of $89.31 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. On average, equities research analysts forecast that Shenandoah Telecommunications Co will post -0.49 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SHEN. Wall Street Zen upgraded shares of Shenandoah Telecommunications to a "sell" rating in a report on Thursday, May 8th. BWS Financial restated a "buy" rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Thursday, May 1st.

Insider Buying and Selling

In other Shenandoah Telecommunications news, major shareholder Ecp Fiber Holdings Gp, Llc bought 32,000 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was bought at an average cost of $12.46 per share, with a total value of $398,720.00. Following the completion of the transaction, the insider directly owned 2,532,697 shares of the company's stock, valued at approximately $31,557,404.62. The trade was a 1.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ecp Controlco, Llc bought 36,238 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was acquired at an average cost of $12.58 per share, with a total value of $455,874.04. Following the completion of the transaction, the insider directly owned 2,599,274 shares of the company's stock, valued at approximately $32,698,866.92. This represents a 1.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 512,107 shares of company stock worth $7,089,032 over the last ninety days. 4.51% of the stock is currently owned by insiders.

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.