Shenandoah Telecommunications Co $SHEN Stock: Cooper Investors PTY Ltd. Trims Stake

Cooper Investors PTY Ltd. cut its holdings in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) by 49.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 469,934 shares of the utilities provider’s stock after selling 460,209 shares during the quarter. Shenandoah Telecommunications makes up 2.8% of Cooper Investors PTY Ltd.’s investment portfolio, making the stock its 11th largest holding. Cooper Investors PTY Ltd.’s holdings in Shenandoah Telecommunications were worth $5,273,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Gabelli Funds LLC raised its stake in shares of Shenandoah Telecommunications by 0.5% during the 1st quarter. Gabelli Funds LLC now owns 199,530 shares of the utilities provider’s stock worth $3,077,000 after purchasing an additional 1,000 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Shenandoah Telecommunications by 71.7% in the 3rd quarter. Versant Capital Management Inc now owns 3,675 shares of the utilities provider’s stock worth $41,000 after buying an additional 1,535 shares during the last quarter. Quantinno Capital Management LP grew its position in Shenandoah Telecommunications by 1.8% during the first quarter. Quantinno Capital Management LP now owns 97,435 shares of the utilities provider’s stock valued at $1,502,000 after buying an additional 1,762 shares during the period. Graves Light Lenhart Wealth Inc. grew its position in Shenandoah Telecommunications by 11.4% during the second quarter. Graves Light Lenhart Wealth Inc. now owns 24,140 shares of the utilities provider’s stock valued at $364,000 after buying an additional 2,475 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Shenandoah Telecommunications by 17.2% during the first quarter. PNC Financial Services Group Inc. now owns 23,592 shares of the utilities provider’s stock valued at $364,000 after buying an additional 3,465 shares during the period. 61.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SHEN. BWS Financial restated a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shenandoah Telecommunications in a research note on Friday, July 31st. Finally, Wall Street Zen raised shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Shenandoah Telecommunications currently has an average rating of “Hold” and a consensus target price of $27.50.

Shenandoah Telecommunications Stock Performance

NASDAQ:SHEN traded down $0.02 during trading hours on Tuesday, reaching $10.52. The stock had a trading volume of 577,642 shares, compared to its average volume of 462,868. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day simple moving average of $12.14 and a 200 day simple moving average of $13.85. Shenandoah Telecommunications Co has a 12-month low of $9.66 and a 12-month high of $17.34. The stock has a market cap of $582.44 million, a P/E ratio of -13.49 and a beta of 0.76.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.11. Shenandoah Telecommunications had a negative return on equity of 4.54% and a negative net margin of 10.83%. The firm had revenue of $93.46 million for the quarter, compared to analyst estimates of $92.83 million. On average, research analysts forecast that Shenandoah Telecommunications Co will post -0.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO James Volk acquired 4,283 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average cost of $11.67 per share, for a total transaction of $49,982.61. Following the purchase, the chief financial officer owned 92,671 shares of the company’s stock, valued at approximately $1,081,470.57. The trade was a 4.85% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.01% of the company’s stock.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, doing business as Shentel, is a telecommunications provider headquartered in Edinburg, Virginia. The company builds and operates broadband networks serving residential, business and institutional customers in communities across the Mid-Atlantic, including portions of Virginia, West Virginia, Maryland and Pennsylvania.

Shentel provides high-speed internet, digital video and voice services through its Glo Fiber and traditional cable broadband networks.