Shenandoah Telecommunications (SHEN) Holdings Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its position in Shenandoah Telecommunications (NASDAQ:SHEN) by 65.9% during the 3rd quarter, Holdings Channel reports. The firm owned 6,700 shares of the utilities provider’s stock after selling 12,955 shares during the period. JPMorgan Chase & Co.’s holdings in Shenandoah Telecommunications were worth $253,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Suntrust Banks Inc. boosted its holdings in Shenandoah Telecommunications by 2.2% in the 2nd quarter. Suntrust Banks Inc. now owns 9,805 shares of the utilities provider’s stock valued at $301,000 after purchasing an additional 209 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Shenandoah Telecommunications by 9.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,079 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 347 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Shenandoah Telecommunications by 13.2% in the 2nd quarter. Toronto Dominion Bank now owns 6,636 shares of the utilities provider’s stock valued at $204,000 after purchasing an additional 776 shares during the last quarter. Legal & General Group Plc boosted its holdings in Shenandoah Telecommunications by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 19,232 shares of the utilities provider’s stock valued at $590,000 after purchasing an additional 902 shares during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Shenandoah Telecommunications by 6.8% in the 2nd quarter. Voya Investment Management LLC now owns 21,682 shares of the utilities provider’s stock valued at $666,000 after purchasing an additional 1,373 shares during the last quarter. Institutional investors own 48.41% of the company’s stock.

Shenandoah Telecommunications (NASDAQ:SHEN) opened at $31.60 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.34 and a debt-to-equity ratio of 2.60. Shenandoah Telecommunications has a fifty-two week low of $25.35 and a fifty-two week high of $41.80. The company has a market cap of $1,560.00, a P/E ratio of 287.27 and a beta of 0.69.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.08. Shenandoah Telecommunications had a net margin of 0.91% and a return on equity of 4.04%. The firm had revenue of $151.80 million for the quarter, compared to analyst estimates of $153.64 million. During the same period in the prior year, the business posted ($0.16) EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. research analysts anticipate that Shenandoah Telecommunications will post 0.16 earnings per share for the current year.

Several equities analysts have recently commented on the stock. BidaskClub lowered shares of Shenandoah Telecommunications from a “sell” rating to a “strong sell” rating in a report on Saturday, January 13th. TheStreet lowered shares of Shenandoah Telecommunications from a “b-” rating to a “c+” rating in a report on Friday, November 10th. Finally, Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Shenandoah Telecommunications has a consensus rating of “Hold” and a consensus target price of $35.00.

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About Shenandoah Telecommunications

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.

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Institutional Ownership by Quarter for Shenandoah Telecommunications (NASDAQ:SHEN)

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