Citadel Advisors LLC trimmed its stake in Shenandoah Telecommunications (NASDAQ:SHEN) by 41.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,491 shares of the utilities provider’s stock after selling 6,124 shares during the period. Citadel Advisors LLC’s holdings in Shenandoah Telecommunications were worth $316,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in Shenandoah Telecommunications by 1,399.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 537,792 shares of the utilities provider’s stock valued at $16,510,000 after purchasing an additional 501,920 shares during the last quarter. Mawer Investment Management Ltd. raised its stake in shares of Shenandoah Telecommunications by 20.5% in the third quarter. Mawer Investment Management Ltd. now owns 1,010,069 shares of the utilities provider’s stock worth $37,575,000 after acquiring an additional 171,670 shares during the last quarter. State Street Corp raised its stake in shares of Shenandoah Telecommunications by 5.7% in the second quarter. State Street Corp now owns 946,221 shares of the utilities provider’s stock worth $29,048,000 after acquiring an additional 50,603 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Shenandoah Telecommunications by 1.3% in the second quarter. Vanguard Group Inc. now owns 3,720,805 shares of the utilities provider’s stock worth $114,229,000 after acquiring an additional 47,212 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of Shenandoah Telecommunications in the third quarter worth about $1,673,000. Institutional investors own 48.41% of the company’s stock.
Shenandoah Telecommunications (NASDAQ SHEN) traded down $0.55 during trading on Friday, hitting $32.60. 127,137 shares of the stock traded hands, compared to its average volume of 138,825. The firm has a market capitalization of $1,618.34, a PE ratio of 271.67 and a beta of 0.68. Shenandoah Telecommunications has a 12 month low of $25.35 and a 12 month high of $41.80. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.34 and a quick ratio of 1.28.
Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.08. The business had revenue of $151.80 million for the quarter, compared to analyst estimates of $153.64 million. Shenandoah Telecommunications had a net margin of 0.91% and a return on equity of 4.04%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. equities research analysts forecast that Shenandoah Telecommunications will post 0.16 EPS for the current fiscal year.
SHEN has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. TheStreet cut shares of Shenandoah Telecommunications from a “b-” rating to a “c+” rating in a report on Friday, November 10th. Finally, BidaskClub cut shares of Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $35.00.
Shenandoah Telecommunications Profile
Shenandoah Telecommunications Company is a telecommunications holding company. The Company’s segments are Wireless, Cable, Wireline and Other. The Company, through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio.