Wells Fargo & Company MN Has $878,000 Holdings in Shenandoah Telecommunications (NASDAQ:SHEN)

Wells Fargo & Company MN cut its holdings in Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 35.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,631 shares of the utilities provider's stock after selling 38,764 shares during the quarter. Wells Fargo & Company MN owned 0.13% of Shenandoah Telecommunications worth $878,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in Shenandoah Telecommunications by 339.4% in the third quarter. Barclays PLC now owns 80,151 shares of the utilities provider's stock valued at $1,131,000 after buying an additional 61,910 shares during the period. Smartleaf Asset Management LLC lifted its stake in Shenandoah Telecommunications by 456.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider's stock valued at $53,000 after buying an additional 3,531 shares during the period. GAMMA Investing LLC lifted its stake 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 buying an additional 5,013 shares during the period. DAVENPORT & Co LLC raised its position in shares of Shenandoah Telecommunications by 16.1% during the fourth quarter. DAVENPORT & Co LLC now owns 1,012,685 shares of the utilities provider's stock worth $12,770,000 after purchasing an additional 140,314 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Shenandoah Telecommunications during the fourth quarter worth approximately $260,000. 61.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SHEN. StockNews.com raised Shenandoah Telecommunications to a "sell" rating in a research report on Friday, April 11th. BWS Financial reaffirmed a "buy" rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Tuesday, February 25th.

Shenandoah Telecommunications Price Performance

Shares of NASDAQ:SHEN opened at $11.14 on Thursday. 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 has a twelve month low of $9.77 and a twelve month high of $21.89. The stock's 50 day moving average is $12.32 and its 200-day moving average is $12.59. The firm has a market capitalization of $611.10 million, a price-to-earnings ratio of 2.94 and a beta of 0.81.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) EPS 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 analysts' expectations of $89.31 million. During the same quarter in the prior year, the company earned ($0.07) EPS. Sell-side analysts forecast that Shenandoah Telecommunications will post -0.49 EPS 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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