Shenandoah Telecommunications (NASDAQ:SHEN) Stock Position Lessened by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in shares of Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 525,128 shares of the utilities provider's stock after selling 68,453 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.96% of Shenandoah Telecommunications worth $6,622,000 as of its most recent filing with the SEC.

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

Remove Ads

Analysts Set New Price Targets

A number of research firms have commented on SHEN. BWS Financial reaffirmed a "buy" rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Tuesday, February 25th. StockNews.com upgraded shares of Shenandoah Telecommunications to a "sell" rating in a research note on Wednesday, March 19th.

Shenandoah Telecommunications Stock Performance

Shares of NASDAQ:SHEN traded down $0.74 during trading on Friday, hitting $12.74. 201,813 shares of the company traded hands, compared to its average volume of 231,293. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.44. The business's fifty day moving average is $11.65 and its 200-day moving average is $12.89. The stock has a market capitalization of $698.87 million, a price-to-earnings ratio of 3.36 and a beta of 0.71. Shenandoah Telecommunications has a one year low of $9.77 and a one year high of $21.89.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its 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 negative return on equity of 2.50% and a net margin of 58.03%. The company had revenue of $85.41 million during the quarter, compared to analyst estimates of $89.65 million. As a group, equities analysts predict that Shenandoah Telecommunications will post -0.49 earnings per share 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.