Janney Montgomery Scott LLC bought a new stake in Shenandoah Telecommunications (NASDAQ:SHEN – Get Rating) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,763 shares of the utilities provider’s stock, valued at approximately $661,000. Janney Montgomery Scott LLC owned about 0.06% of Shenandoah Telecommunications at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Shenandoah Telecommunications by 4.6% in the first quarter. State Street Corp now owns 1,824,475 shares of the utilities provider’s stock valued at $43,021,000 after purchasing an additional 79,737 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Shenandoah Telecommunications by 10.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,787,782 shares of the utilities provider’s stock valued at $42,156,000 after purchasing an additional 169,835 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Shenandoah Telecommunications by 16.7% in the first quarter. DAVENPORT & Co LLC now owns 807,802 shares of the utilities provider’s stock valued at $19,016,000 after purchasing an additional 115,729 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Shenandoah Telecommunications by 4.5% during the first quarter. JPMorgan Chase & Co. now owns 523,100 shares of the utilities provider’s stock worth $12,334,000 after buying an additional 22,371 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Shenandoah Telecommunications by 7.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 508,049 shares of the utilities provider’s stock worth $11,981,000 after buying an additional 33,344 shares during the last quarter. Hedge funds and other institutional investors own 54.95% of the company’s stock.
Shenandoah Telecommunications Stock Performance
NASDAQ SHEN opened at $18.79 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market capitalization of $941.34 million, a PE ratio of -208.78 and a beta of 0.62. Shenandoah Telecommunications has a 52-week low of $15.63 and a 52-week high of $28.68. The company has a 50-day simple moving average of $18.89 and a 200 day simple moving average of $21.12.
Shenandoah Telecommunications Increases Dividend
Wall Street Analyst Weigh In
SHEN has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Shenandoah Telecommunications to a “sell” rating in a report on Thursday, November 3rd. BWS Financial decreased their price objective on shares of Shenandoah Telecommunications from $16.00 to $15.00 and set a “sell” rating for the company in a report on Monday.
Insiders Place Their Bets
In other Shenandoah Telecommunications news, VP Heather K. Tormey sold 2,834 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $21.45, for a total transaction of $60,789.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.04% of the company’s stock.
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. Its Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky, via hybrid fiber coaxial cable under the Shentel brand, fiber optic services under the Glo Fiber brand, and fixed wireless network services under the Beam brand name.
- Get a free copy of the StockNews.com research report on Shenandoah Telecommunications (SHEN)
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