Shenandoah Telecommunications (NASDAQ:SHEN) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,487,862 shares of the utilities provider's stock after selling 101,434 shares during the quarter. Vanguard Group Inc. owned approximately 10.92% of Shenandoah Telecommunications worth $113,105,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Lazard Asset Management LLC grew its position in shares of Shenandoah Telecommunications by 45.4% in the first quarter. Lazard Asset Management LLC now owns 2,595 shares of the utilities provider's stock valued at $61,000 after purchasing an additional 810 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Shenandoah Telecommunications by 193.7% during the third quarter. Tower Research Capital LLC TRC now owns 3,213 shares of the utilities provider's stock worth $66,000 after buying an additional 2,119 shares in the last quarter. UBS Group AG grew its position in Shenandoah Telecommunications by 2,432.8% during the third quarter. UBS Group AG now owns 4,787 shares of the utilities provider's stock worth $81,000 after buying an additional 4,598 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in Shenandoah Telecommunications during the third quarter worth approximately $109,000. Finally, Captrust Financial Advisors grew its position in Shenandoah Telecommunications by 28.7% during the first quarter. Captrust Financial Advisors now owns 5,027 shares of the utilities provider's stock worth $119,000 after buying an additional 1,120 shares in the last quarter. Institutional investors and hedge funds own 61.96% of the company's stock.

Analyst Ratings Changes

Separately, BWS Financial raised Shenandoah Telecommunications from a "neutral" rating to a "buy" rating and set a $26.00 price target on the stock in a research report on Monday, March 4th.

Shenandoah Telecommunications Price Performance

NASDAQ SHEN traded up $0.13 on Thursday, hitting $16.59. 176,203 shares of the company's stock were exchanged, compared to its average volume of 136,963. Shenandoah Telecommunications has a 52 week low of $16.13 and a 52 week high of $25.51. The stock has a market cap of $836.92 million, a price-to-earnings ratio of 103.69 and a beta of 0.52. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average of $18.72 and a 200-day moving average of $20.76.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. The business had revenue of $72.51 million during the quarter, compared to analyst estimates of $71.85 million. Shenandoah Telecommunications had a return on equity of 1.24% and a net margin of 2.80%. During the same period last year, the company earned ($0.04) EPS. Analysts expect that Shenandoah Telecommunications will post -0.05 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.