Smartleaf Asset Management LLC Buys 3,531 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

Smartleaf Asset Management LLC boosted its stake in Shenandoah Telecommunications (NASDAQ:SHEN) by 456.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,304 shares of the utilities provider’s stock after acquiring an additional 3,531 shares during the period. Smartleaf Asset Management LLC’s holdings in Shenandoah Telecommunications were worth $53,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in Shenandoah Telecommunications by 211.9% in the third quarter. FMR LLC now owns 105,789 shares of the utilities provider’s stock valued at $1,493,000 after acquiring an additional 71,868 shares in the last quarter. Barclays PLC boosted its holdings in shares of Shenandoah Telecommunications by 339.4% during the 3rd 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 in the last quarter. Jane Street Group LLC boosted its holdings in shares of Shenandoah Telecommunications by 101.2% during the 3rd quarter. Jane Street Group LLC now owns 95,703 shares of the utilities provider’s stock valued at $1,350,000 after buying an additional 48,127 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Shenandoah Telecommunications during the 3rd quarter valued at $1,113,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Shenandoah Telecommunications during the 3rd quarter valued at $678,000. Institutional investors own 61.96% of the company’s stock.

Analysts Set New Price Targets

Separately, BWS Financial restated a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Tuesday, February 25th.

Shenandoah Telecommunications Stock Performance

Shares of SHEN stock opened at $11.78 on Tuesday. The company’s fifty day moving average price is $11.56 and its 200-day moving average price is $13.10. 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 stock has a market cap of $644.05 million, a PE ratio of 3.11 and a beta of 0.71. Shenandoah Telecommunications has a 12 month low of $9.77 and a 12 month high of $21.89.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced 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 firm had revenue of $85.41 million during the quarter, compared to the consensus estimate of $89.65 million. Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. On average, equities analysts expect that Shenandoah Telecommunications will post -0.49 EPS for the current fiscal year.

About Shenandoah Telecommunications

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.