Shenandoah Telecommunications (NASDAQ:SHEN) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,705 shares of the utilities provider’s stock after selling 4,430 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.05% of Shenandoah Telecommunications worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of SHEN. Proficio Capital Partners LLC acquired a new stake in shares of Shenandoah Telecommunications during the 4th quarter worth about $260,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Shenandoah Telecommunications in the 4th quarter valued at approximately $201,000. Smartleaf Asset Management LLC lifted its holdings in shares of Shenandoah Telecommunications by 456.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 3,531 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Shenandoah Telecommunications by 8.3% during the 4th quarter. Bank of New York Mellon Corp now owns 454,540 shares of the utilities provider’s stock worth $5,732,000 after purchasing an additional 34,740 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in Shenandoah Telecommunications in the 4th quarter valued at approximately $2,379,000. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SHEN shares. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a research report on Wednesday. BWS Financial reissued a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Tuesday, February 25th.

Shenandoah Telecommunications Trading Down 0.8 %

Shares of SHEN stock opened at $12.45 on Friday. Shenandoah Telecommunications has a fifty-two week low of $9.77 and a fifty-two week high of $21.89. The company has a 50 day moving average price of $11.53 and a 200 day moving average price of $12.97. The stock has a market capitalization of $682.96 million, a P/E ratio of 3.28 and a beta of 0.71. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.79 and a current ratio of 0.82.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The business had revenue of $85.41 million during the quarter, compared to analyst estimates of $89.65 million. Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. Equities research analysts predict that Shenandoah Telecommunications will post -0.49 EPS for the current fiscal year.

Shenandoah Telecommunications Company 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.