Shenandoah Telecommunications (NASDAQ:SHEN) Shares Bought by First Trust Advisors LP

First Trust Advisors LP grew its stake in shares of Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 59.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,825 shares of the utilities provider's stock after acquiring an additional 60,248 shares during the quarter. First Trust Advisors LP owned about 0.30% of Shenandoah Telecommunications worth $2,041,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc grew its position in Shenandoah Telecommunications by 10,890.9% during the 4th quarter. Versant Capital Management Inc now owns 2,418 shares of the utilities provider's stock worth $30,000 after purchasing an additional 2,396 shares during the period. Smartleaf Asset Management LLC grew its holdings in Shenandoah Telecommunications by 456.8% during the fourth 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 during the period. KLP Kapitalforvaltning AS purchased a new position in Shenandoah Telecommunications during the fourth quarter valued at approximately $101,000. GAMMA Investing LLC lifted its holdings in Shenandoah Telecommunications by 135.2% in the fourth quarter. GAMMA Investing LLC now owns 8,722 shares of the utilities provider's stock valued at $110,000 after acquiring an additional 5,013 shares during the period. Finally, Financial Engines Advisors L.L.C. purchased a new stake in Shenandoah Telecommunications in the 4th quarter worth approximately $190,000. 61.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on SHEN. StockNews.com upgraded shares of Shenandoah Telecommunications to a "sell" rating in a research note on Thursday. BWS Financial restated a "buy" rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Thursday, May 1st.

Shenandoah Telecommunications Price Performance

SHEN traded up $0.19 on Friday, hitting $11.92. 199,577 shares of the company's stock were exchanged, compared to its average volume of 242,114. Shenandoah Telecommunications has a fifty-two week low of $9.77 and a fifty-two week high of $21.89. The stock has a market cap of $653.90 million, a price-to-earnings ratio of 3.15 and a beta of 0.82. The firm has a 50-day moving average price of $12.41 and a 200-day moving average price of $12.51. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.44.

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 firm had revenue of $87.90 million during the quarter, compared to analyst estimates of $89.31 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. As a group, equities analysts anticipate that Shenandoah Telecommunications will post -0.49 earnings per share for the current 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.