Bank of New York Mellon Corp Grows Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Bank of New York Mellon Corp raised its stake in shares of Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 8.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 454,540 shares of the utilities provider's stock after buying an additional 34,740 shares during the period. Bank of New York Mellon Corp owned about 0.83% of Shenandoah Telecommunications worth $5,732,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Private Advisor Group LLC acquired a new position in Shenandoah Telecommunications during the fourth quarter worth $2,379,000. Principal Financial Group Inc. boosted its holdings in Shenandoah Telecommunications by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 222,588 shares of the utilities provider's stock worth $2,807,000 after buying an additional 6,323 shares during the last quarter. Rhumbline Advisers increased its stake in Shenandoah Telecommunications by 4.1% during the 4th quarter. Rhumbline Advisers now owns 150,079 shares of the utilities provider's stock worth $1,892,000 after buying an additional 5,862 shares in the last quarter. DAVENPORT & Co LLC raised its holdings 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 valued at $12,770,000 after acquiring an additional 140,314 shares during the last quarter. Finally, Capital Investment Advisory Services LLC purchased a new position in shares of Shenandoah Telecommunications in the fourth quarter valued at approximately $252,000. Hedge funds and other institutional investors own 61.96% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms recently commented on SHEN. StockNews.com raised Shenandoah Telecommunications to a "sell" rating in a research note on Wednesday. BWS Financial restated a "buy" rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Tuesday, February 25th.

Shenandoah Telecommunications Trading Down 0.7 %

Shenandoah Telecommunications stock traded down $0.09 during trading on Thursday, reaching $12.46. 137,340 shares of the company were exchanged, compared to its average volume of 214,324. 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 stock's 50 day simple moving average is $11.53 and its two-hundred day simple moving average is $12.97. The company has a market capitalization of $683.51 million, a P/E ratio of 3.28 and a beta of 0.71. Shenandoah Telecommunications has a 52-week low of $9.77 and a 52-week high of $21.89.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The utilities provider reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.07). Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. The firm had revenue of $85.41 million for the quarter, compared to analyst estimates of $89.65 million. On average, equities research analysts expect that Shenandoah Telecommunications will post -0.49 earnings per share 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.