Creative Planning lessened its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN – Free Report) by 20.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,880 shares of the utilities provider’s stock after selling 17,896 shares during the quarter. Creative Planning owned 0.14% of Shenandoah Telecommunications worth $1,377,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its position in Shenandoah Telecommunications by 3,739.1% in the first quarter. Nisa Investment Advisors LLC now owns 1,766 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 1,720 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Shenandoah Telecommunications by 539.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,940 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 2,480 shares in the last quarter. Lazard Asset Management LLC grew its position in Shenandoah Telecommunications by 45.4% in the first quarter. Lazard Asset Management LLC now owns 2,595 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 810 shares in the last quarter. Kalos Management Inc. acquired a new stake in Shenandoah Telecommunications in the first quarter valued at approximately $68,000. Finally, UBS Group AG grew its position in Shenandoah Telecommunications by 2,432.8% in the third quarter. UBS Group AG now owns 4,787 shares of the utilities provider’s stock valued at $81,000 after acquiring an additional 4,598 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on SHEN shares. BWS Financial raised shares of Shenandoah Telecommunications from a “sell” rating to a “neutral” rating and set a $20.00 price objective for the company in a research report on Friday, August 4th. StockNews.com downgraded shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Saturday, September 30th.
Shenandoah Telecommunications Stock Down 0.9 %
SHEN stock opened at $21.66 on Friday. Shenandoah Telecommunications has a twelve month low of $15.62 and a twelve month high of $23.31. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.09 billion, a P/E ratio of -2,166.00 and a beta of 0.69. The firm has a 50 day simple moving average of $21.58 and a 200-day simple moving average of $20.13.
Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. Shenandoah Telecommunications had a negative net margin of 0.25% and a positive return on equity of 0.03%. The business had revenue of $71.34 million during the quarter, compared to the consensus estimate of $70.19 million. On average, equities research analysts predict that Shenandoah Telecommunications will post 0.04 earnings per share for the current fiscal 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. Its 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.
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