Geode Capital Management LLC Reduces Stock Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Geode Capital Management LLC decreased its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,122,557 shares of the utilities provider’s stock after selling 1,566 shares during the quarter. Geode Capital Management LLC owned 2.06% of Shenandoah Telecommunications worth $14,159,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc boosted its position in Shenandoah Telecommunications by 10,890.9% during the fourth quarter. Versant Capital Management Inc now owns 2,418 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 2,396 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Shenandoah Telecommunications by 456.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock worth $53,000 after buying an additional 3,531 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Shenandoah Telecommunications in the 4th quarter worth about $101,000. GAMMA Investing LLC grew its stake in Shenandoah Telecommunications by 135.2% in the 4th quarter. GAMMA Investing LLC now owns 8,722 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 5,013 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. purchased a new position in Shenandoah Telecommunications during the 4th quarter valued at about $190,000. Institutional investors and hedge funds own 61.96% of the company’s stock.

Shenandoah Telecommunications Trading Up 1.8 %

Shenandoah Telecommunications stock opened at $13.07 on Monday. The stock has a 50-day moving average price of $12.15 and a 200 day moving average price of $12.61. Shenandoah Telecommunications has a 52 week low of $9.77 and a 52 week high of $21.89. The stock has a market cap of $716.97 million, a PE ratio of 3.45 and a beta of 0.81. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.44.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SHEN. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a report on Friday, April 11th. BWS Financial reiterated a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Tuesday, February 25th.

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.