Squarepoint Ops LLC Trims Holdings in Shenandoah Telecommunications (NASDAQ:SHEN)

Squarepoint Ops LLC reduced its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 43.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,135 shares of the utilities provider's stock after selling 20,792 shares during the period. Squarepoint Ops LLC's holdings in Shenandoah Telecommunications were worth $342,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Advisor Group LLC acquired a new stake in Shenandoah Telecommunications in the fourth quarter worth $2,379,000. Invesco Ltd. increased its holdings in shares of Shenandoah Telecommunications by 66.7% during the fourth quarter. Invesco Ltd. now owns 239,856 shares of the utilities provider's stock valued at $3,025,000 after purchasing an additional 96,006 shares during the period. Marshall Wace LLP acquired a new position in shares of Shenandoah Telecommunications during the fourth quarter valued at $1,052,000. Vanguard Group Inc. increased its holdings in shares of Shenandoah Telecommunications by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,529,847 shares of the utilities provider's stock valued at $69,731,000 after purchasing an additional 68,133 shares during the period. Finally, Natural Investments LLC acquired a new position in shares of Shenandoah Telecommunications during the fourth quarter valued at $854,000. 61.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Ecp Controlco, Llc purchased 26,623 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was acquired at an average price of $12.85 per share, for a total transaction of $342,105.55. Following the transaction, the insider now directly owns 2,625,897 shares of the company's stock, valued at $33,742,776.45. This trade represents a 1.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Ecp Fiber Holdings Gp, Llc purchased 30,339 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was bought at an average price of $12.55 per share, with a total value of $380,754.45. Following the transaction, the insider now directly owns 2,563,036 shares in the company, valued at $32,166,101.80. This trade represents a 1.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 173,513 shares of company stock valued at $2,160,679 over the last three months. Company insiders own 4.51% of the company's stock.

Wall Street Analyst Weigh In

SHEN has been the topic of a number of research analyst reports. Wall Street Zen raised Shenandoah Telecommunications to a "sell" rating in a report on Thursday, May 8th. BWS Financial reaffirmed 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 opened at $13.23 on Friday. The business's 50-day moving average price is $12.26 and its 200 day moving average price is $12.24. The firm has a market cap of $725.76 million, a P/E ratio of 3.49 and a beta of 0.87. Shenandoah Telecommunications has a 52-week low of $9.77 and a 52-week high of $21.89. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.44.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last released its earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.05). The firm had revenue of $87.90 million for the quarter, compared to analyst estimates 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 in the previous year, the firm earned ($0.07) earnings per share. As a group, sell-side analysts predict that Shenandoah Telecommunications will post -0.49 earnings per share 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.

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