Shenandoah Telecommunications (SHEN) Shares Bought by Martingale Asset Management L P

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Martingale Asset Management L P lifted its stake in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 23.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 163,429 shares of the utilities provider’s stock after purchasing an additional 31,400 shares during the quarter. Martingale Asset Management L P’s holdings in Shenandoah Telecommunications were worth $7,250,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SHEN. Bank of Montreal Can increased its holdings in Shenandoah Telecommunications by 51.4% in the fourth quarter. Bank of Montreal Can now owns 1,002 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 340 shares during the period. TIAA CREF Investment Management LLC increased its holdings in Shenandoah Telecommunications by 0.4% in the third quarter. TIAA CREF Investment Management LLC now owns 104,166 shares of the utilities provider’s stock valued at $4,036,000 after purchasing an additional 428 shares during the period. Victory Capital Management Inc. increased its holdings in Shenandoah Telecommunications by 4.0% in the fourth quarter. Victory Capital Management Inc. now owns 11,162 shares of the utilities provider’s stock valued at $494,000 after purchasing an additional 434 shares during the period. Principal Financial Group Inc. increased its holdings in Shenandoah Telecommunications by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 17,087 shares of the utilities provider’s stock valued at $756,000 after purchasing an additional 452 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Shenandoah Telecommunications in the fourth quarter valued at $40,000. Institutional investors own 48.94% of the company’s stock.

Shares of SHEN opened at $43.03 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.32. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 46.27 and a beta of 0.42. Shenandoah Telecommunications has a 12 month low of $29.92 and a 12 month high of $51.41.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.28 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.28. The business had revenue of $158.84 million for the quarter, compared to analysts’ expectations of $163.97 million. Shenandoah Telecommunications had a net margin of 8.23% and a return on equity of 11.86%. As a group, sell-side analysts predict that Shenandoah Telecommunications will post 1.24 EPS for the current year.

A number of analysts recently weighed in on SHEN shares. BWS Financial restated a “buy” rating on shares of Shenandoah Telecommunications in a report on Monday, January 28th. BidaskClub upgraded Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. B. Riley increased their price objective on Shenandoah Telecommunications from $50.00 to $54.00 and gave the company a “buy” rating in a report on Friday, March 1st. ValuEngine downgraded Shenandoah Telecommunications from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Finally, Zacks Investment Research upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $50.67.

In other Shenandoah Telecommunications news, VP Raymond B. Ostroski sold 10,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $45.76, for a total transaction of $457,600.00. Following the sale, the vice president now owns 18,575 shares of the company’s stock, valued at $849,992. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.70% of the company’s stock.

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Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, through its subsidiaries, primarily provides wireless, cable, and wireline telecommunications services to customers and other telecommunications providers. The company operates in three segments: Wireless, Cable, and Wireline. The Wireless segment provides digital wireless mobile services; and wireless mobility communications network products and services.

See Also: Strangles

Want to see what other hedge funds are holding SHEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shenandoah Telecommunications (NASDAQ:SHEN).

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

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