JPMorgan Chase & Co. Acquires 65,426 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

JPMorgan Chase & Co. raised its stake in shares of Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 42.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,276 shares of the utilities provider's stock after acquiring an additional 65,426 shares during the period. JPMorgan Chase & Co. owned about 0.40% of Shenandoah Telecommunications worth $2,765,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Financial Engines Advisors L.L.C. bought a new stake in shares of Shenandoah Telecommunications during the 4th quarter worth $190,000. Vanguard Group Inc. increased its holdings in Shenandoah Telecommunications by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,529,847 shares of the utilities provider's stock worth $69,731,000 after acquiring an additional 68,133 shares during the last quarter. LPL Financial LLC increased its holdings in Shenandoah Telecommunications by 5.9% in the 4th quarter. LPL Financial LLC now owns 38,461 shares of the utilities provider's stock worth $485,000 after acquiring an additional 2,143 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Shenandoah Telecommunications in the 4th quarter worth about $101,000. Finally, American Century Companies Inc. increased its holdings in Shenandoah Telecommunications by 12.5% in the 4th quarter. American Century Companies Inc. now owns 433,218 shares of the utilities provider's stock worth $5,463,000 after acquiring an additional 48,233 shares during the last quarter. 61.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SHEN shares. BWS Financial reissued a "buy" rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Tuesday, February 25th. StockNews.com raised Shenandoah Telecommunications to a "sell" rating in a report on Friday, April 11th.

Shenandoah Telecommunications Price Performance

SHEN stock traded up $0.10 during mid-day trading on Monday, reaching $12.83. 192,170 shares of the company traded hands, compared to its average volume of 238,793. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.79. The company has a market capitalization of $703.80 million, a P/E ratio of 3.39 and a beta of 0.81. Shenandoah Telecommunications has a 52-week low of $9.77 and a 52-week high of $21.89. The company has a fifty day moving average price of $12.27 and a 200-day moving average price of $12.60.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.07). The business had revenue of $85.41 million for the quarter, compared to the consensus estimate of $89.65 million. Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. As a group, 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.