Shenandoah Telecommunications (NASDAQ:SHEN) Stock Price Up 5.3% – Here’s What Happened

Shenandoah Telecommunications (NASDAQ:SHEN) was up 5.3% during trading on Tuesday . The stock traded as high as $12.83 and last traded at $12.71. Approximately 137,009 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 235,499 shares. The stock had previously closed at $12.06.

Wall Street Analyst Weigh In

SHEN has been the topic of several recent research reports. BWS Financial reaffirmed a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research 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 Trading Up 3.1 %

The company has a fifty day simple moving average of $11.80 and a two-hundred day simple moving average of $12.73. The company has a market capitalization of $681.75 million, a P/E ratio of 3.28 and a beta of 0.81. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.79.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The company had revenue of $85.41 million during the quarter, compared to the consensus estimate of $89.65 million. Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. On average, analysts forecast that Shenandoah Telecommunications will post -0.49 earnings per share for the current fiscal year.

Institutional Trading of Shenandoah Telecommunications

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in Shenandoah Telecommunications by 2,104.3% in the 1st quarter. GAMMA Investing LLC now owns 192,258 shares of the utilities provider’s stock valued at $2,417,000 after buying an additional 183,536 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Shenandoah Telecommunications by 6.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 146,557 shares of the utilities provider’s stock valued at $1,848,000 after acquiring an additional 8,253 shares during the period. Visionary Wealth Advisors grew its position in shares of Shenandoah Telecommunications by 29.5% in the fourth quarter. Visionary Wealth Advisors now owns 36,705 shares of the utilities provider’s stock valued at $463,000 after purchasing an additional 8,355 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Shenandoah Telecommunications in the fourth quarter worth about $126,000. Finally, ProShare Advisors LLC lifted its position in shares of Shenandoah Telecommunications by 44.7% during the 4th quarter. ProShare Advisors LLC now owns 14,622 shares of the utilities provider’s stock worth $184,000 after purchasing an additional 4,517 shares during the last quarter. 61.96% of the stock is currently owned by institutional investors and hedge funds.

About Shenandoah Telecommunications

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.