Invesco Ltd. lifted its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 66.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,856 shares of the utilities provider's stock after purchasing an additional 96,006 shares during the period. Invesco Ltd. owned about 0.44% of Shenandoah Telecommunications worth $3,025,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Shenandoah Telecommunications by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,529,847 shares of the utilities provider's stock worth $69,731,000 after buying an additional 68,133 shares during the period. DAVENPORT & Co LLC increased its holdings in shares of Shenandoah Telecommunications by 16.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,012,685 shares of the utilities provider's stock valued at $12,770,000 after acquiring an additional 140,314 shares during the period. Bank of New York Mellon Corp raised its position in Shenandoah Telecommunications by 8.3% in the 4th quarter. Bank of New York Mellon Corp now owns 454,540 shares of the utilities provider's stock valued at $5,732,000 after purchasing an additional 34,740 shares during the last quarter. American Century Companies Inc. grew its position in Shenandoah Telecommunications by 12.5% during the 4th quarter. American Century Companies Inc. now owns 433,218 shares of the utilities provider's stock worth $5,463,000 after purchasing an additional 48,233 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Shenandoah Telecommunications by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 222,588 shares of the utilities provider's stock valued at $2,807,000 after purchasing an additional 6,323 shares during the period. Institutional investors and hedge funds own 61.96% of the company's stock.
Shenandoah Telecommunications Price Performance
Shares of SHEN traded up $0.23 during trading hours on Thursday, reaching $11.37. The company had a trading volume of 231,045 shares, compared to its average volume of 241,395. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.44. The firm has a 50 day simple moving average of $12.32 and a 200-day simple moving average of $12.59. Shenandoah Telecommunications has a 12-month low of $9.77 and a 12-month high of $21.89. The company has a market capitalization of $623.71 million, a price-to-earnings ratio of 3.00 and a beta of 0.81.
Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $89.31 million. During the same quarter in the prior year, the business earned ($0.07) EPS. Research analysts expect that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. BWS Financial restated a "buy" rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Thursday. StockNews.com raised Shenandoah Telecommunications to a "sell" rating in a report on Friday, April 11th.
Check Out Our Latest Analysis on SHEN
Shenandoah Telecommunications Profile
(
Free Report)
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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