Proficio Capital Partners LLC Makes New Investment in Shenandoah Telecommunications (NASDAQ:SHEN)

Proficio Capital Partners LLC acquired a new position in Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,617 shares of the utilities provider's stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHEN. Quest Partners LLC raised its position in shares of Shenandoah Telecommunications by 741.0% during the 3rd quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider's stock worth $108,000 after buying an additional 6,728 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Shenandoah Telecommunications during the third quarter valued at approximately $678,000. Intech Investment Management LLC bought a new stake in Shenandoah Telecommunications during the third quarter worth approximately $1,113,000. FMR LLC lifted its position in Shenandoah Telecommunications by 211.9% in the third quarter. FMR LLC now owns 105,789 shares of the utilities provider's stock worth $1,493,000 after purchasing an additional 71,868 shares during the period. Finally, Quantbot Technologies LP boosted its stake in Shenandoah Telecommunications by 570.2% during the 3rd quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider's stock valued at $104,000 after purchasing an additional 6,244 shares in the last quarter. Institutional investors own 61.96% of the company's stock.

Shenandoah Telecommunications Price Performance

SHEN stock traded down $0.74 on Friday, hitting $12.74. 201,813 shares of the company's stock traded hands, compared to its average volume of 231,541. The stock has a market cap of $698.87 million, a price-to-earnings ratio of 3.36 and a beta of 0.71. Shenandoah Telecommunications has a 1-year low of $9.77 and a 1-year high of $21.89. 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 fifty day moving average of $11.67 and a 200-day moving average of $12.86.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SHEN. StockNews.com raised Shenandoah Telecommunications to a "sell" rating in a research note on Wednesday, March 19th. BWS Financial reiterated a "buy" rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research report 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.