JPMorgan Chase & Co. Increases Position in Shenandoah Telecommunications (NASDAQ:SHEN)

JPMorgan Chase & Co. lifted its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 42.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 219,276 shares of the utilities provider's stock after buying an additional 65,426 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.40% of Shenandoah Telecommunications worth $2,765,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. LPL Financial LLC raised its holdings in Shenandoah Telecommunications by 5.9% during the fourth quarter. LPL Financial LLC now owns 38,461 shares of the utilities provider's stock valued at $485,000 after acquiring an additional 2,143 shares during the period. Versant Capital Management Inc raised its stake in Shenandoah Telecommunications by 10,890.9% during the 4th quarter. Versant Capital Management Inc now owns 2,418 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 2,396 shares during the period. Inspire Investing LLC lifted its holdings in Shenandoah Telecommunications by 9.7% in the 4th quarter. Inspire Investing LLC now owns 31,807 shares of the utilities provider's stock worth $401,000 after purchasing an additional 2,819 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in 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 purchasing an additional 3,531 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Shenandoah Telecommunications by 135.2% during the 4th 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 in the last quarter. Institutional investors own 61.96% of the company's stock.

Shenandoah Telecommunications Stock Performance

NASDAQ SHEN opened at $12.94 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.79. Shenandoah Telecommunications has a 1-year low of $9.77 and a 1-year high of $21.89. The business has a 50 day simple moving average of $12.19 and a two-hundred day simple moving average of $12.61. The stock has a market capitalization of $709.84 million, a PE ratio of 3.41 and a beta of 0.81.

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

Wall Street Analyst Weigh In

SHEN has been the topic of several research analyst reports. StockNews.com raised shares of Shenandoah Telecommunications to a "sell" rating in a report on Friday, April 11th. BWS Financial reiterated a "buy" rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Tuesday, February 25th.

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.

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