Proficio Capital Partners LLC Invests $260,000 in Shenandoah Telecommunications (NASDAQ:SHEN)

Proficio Capital Partners LLC bought a new position in Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,617 shares of the utilities provider's stock, valued at approximately $260,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in shares of Shenandoah Telecommunications by 10,890.9% in the fourth quarter. Versant Capital Management Inc now owns 2,418 shares of the utilities provider's stock worth $30,000 after acquiring an additional 2,396 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of Shenandoah Telecommunications by 570.2% in the third quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider's stock worth $104,000 after acquiring an additional 6,244 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Shenandoah Telecommunications by 741.0% in the third quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider's stock worth $108,000 after acquiring an additional 6,728 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Shenandoah Telecommunications by 135.2% in the fourth quarter. GAMMA Investing LLC now owns 8,722 shares of the utilities provider's stock worth $110,000 after acquiring an additional 5,013 shares during the last quarter. Finally, Capital Investment Advisory Services LLC bought a new position in shares of Shenandoah Telecommunications in the fourth quarter worth about $252,000. Institutional investors own 61.96% of the company's stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated a "buy" rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Tuesday, February 25th.

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Shenandoah Telecommunications Stock Up 3.4 %

Shares of NASDAQ SHEN opened at $12.18 on Wednesday. The company has a 50 day simple moving average of $11.55 and a 200 day simple moving average of $13.08. The firm has a market cap of $665.92 million, a PE ratio of 3.21 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 debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.79.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its quarterly earnings data 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 business 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, research analysts forecast that Shenandoah Telecommunications will post -0.49 EPS for the current year.

Shenandoah Telecommunications 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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