Shenandoah Telecommunications Co $SHEN Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC boosted its holdings in Shenandoah Telecommunications Co (NASDAQ:SHEN) by 31.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 198,530 shares of the utilities provider’s stock after purchasing an additional 47,100 shares during the quarter. Gabelli Funds LLC’s holdings in Shenandoah Telecommunications were worth $2,295,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Shenandoah Telecommunications by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,639,113 shares of the utilities provider’s stock valued at $35,416,000 after acquiring an additional 39,653 shares during the period. Cooper Investors PTY Ltd. raised its stake in shares of Shenandoah Telecommunications by 81.0% during the fourth quarter. Cooper Investors PTY Ltd. now owns 950,951 shares of the utilities provider’s stock worth $10,993,000 after purchasing an additional 425,582 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Shenandoah Telecommunications by 27.8% during the first quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider’s stock worth $6,700,000 after purchasing an additional 116,040 shares during the last quarter. Invesco Ltd. raised its stake in shares of Shenandoah Telecommunications by 1.3% during the third quarter. Invesco Ltd. now owns 453,502 shares of the utilities provider’s stock worth $6,086,000 after purchasing an additional 5,949 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Shenandoah Telecommunications by 48.3% during the first quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider’s stock worth $5,644,000 after purchasing an additional 146,221 shares during the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.

Shenandoah Telecommunications Trading Down 1.5%

Shares of SHEN stock opened at $15.88 on Friday. Shenandoah Telecommunications Co has a fifty-two week low of $9.66 and a fifty-two week high of $17.34. The stock has a market cap of $878.16 million, a P/E ratio of -19.85 and a beta of 0.66. The business has a fifty day simple moving average of $15.50 and a 200-day simple moving average of $13.15. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.80.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). Shenandoah Telecommunications had a negative net margin of 11.35% and a negative return on equity of 4.64%. The firm had revenue of $92.15 million during the quarter, compared to analysts’ expectations of $91.34 million. On average, analysts forecast that Shenandoah Telecommunications Co will post -1.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on SHEN shares. Craig Hallum started coverage on Shenandoah Telecommunications in a research note on Thursday, April 9th. They set a “buy” rating and a $29.00 price target for the company. Wall Street Zen cut Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. BWS Financial restated a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Monday, May 4th. Finally, Weiss Ratings cut Shenandoah Telecommunications from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Shenandoah Telecommunications currently has a consensus rating of “Hold” and a consensus target price of $27.50.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.