Beacon Investment Advisors LLC Lowers Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Beacon Investment Advisors LLC lessened its position in Shenandoah Telecommunications (NASDAQ:SHENFree Report) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,901 shares of the utilities provider’s stock after selling 4,313 shares during the quarter. Beacon Investment Advisors LLC owned approximately 0.09% of Shenandoah Telecommunications worth $971,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SHEN. GAMMA Investing LLC purchased a new position in Shenandoah Telecommunications during the fourth quarter valued at $27,000. Quest Partners LLC purchased a new position in Shenandoah Telecommunications during the fourth quarter valued at $41,000. HTLF Bank purchased a new position in Shenandoah Telecommunications during the fourth quarter valued at $203,000. Victory Capital Management Inc. purchased a new position in Shenandoah Telecommunications during the fourth quarter valued at $236,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Shenandoah Telecommunications by 17.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,944 shares of the utilities provider’s stock valued at $280,000 after buying an additional 1,899 shares during the last quarter. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a research note on Thursday, May 23rd. BWS Financial reissued a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a report on Monday, May 6th.

Read Our Latest Report on SHEN

Shenandoah Telecommunications Stock Down 3.3 %

Shares of Shenandoah Telecommunications stock traded down $0.60 on Friday, reaching $17.81. The company’s stock had a trading volume of 144,792 shares, compared to its average volume of 160,570. The company has a market capitalization of $971.54 million, a price-to-earnings ratio of 4.11 and a beta of 0.72. The firm’s fifty day simple moving average is $16.14 and its two-hundred day simple moving average is $18.73. Shenandoah Telecommunications has a 52 week low of $11.87 and a 52 week high of $25.51. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.33.

Shenandoah Telecommunications (NASDAQ:SHENGet Free Report) last posted its earnings results on Friday, May 3rd. The utilities provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The business had revenue of $69.25 million during the quarter, compared to the consensus estimate of $71.52 million. Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. Equities analysts anticipate that Shenandoah Telecommunications will post -0.13 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Richard W. Mason, Jr. acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average price of $14.73 per share, with a total value of $29,460.00. Following the completion of the acquisition, the senior vice president now directly owns 14,501 shares of the company’s stock, valued at approximately $213,599.73. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Edward H. Mckay acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average price of $14.95 per share, with a total value of $149,500.00. Following the completion of the acquisition, the chief operating officer now directly owns 66,951 shares of the company’s stock, valued at approximately $1,000,917.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard W. Mason, Jr. bought 2,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average price of $14.73 per share, for a total transaction of $29,460.00. Following the completion of the transaction, the senior vice president now directly owns 14,501 shares of the company’s stock, valued at approximately $213,599.73. The disclosure for this purchase can be found here. Insiders bought 24,463 shares of company stock valued at $363,095 over the last 90 days. Company insiders own 4.37% of the company’s stock.

Shenandoah Telecommunications Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Shenandoah Telecommunications (NASDAQ:SHEN)

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