Nuveen Asset Management LLC Cuts Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Nuveen Asset Management LLC decreased its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 42.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,038 shares of the utilities provider’s stock after selling 101,670 shares during the quarter. Nuveen Asset Management LLC owned 0.25% of Shenandoah Telecommunications worth $1,715,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in Shenandoah Telecommunications by 456.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 3,531 shares during the period. KLP Kapitalforvaltning AS bought a new position in Shenandoah Telecommunications in the fourth quarter worth approximately $101,000. Tower Research Capital LLC TRC raised its position in Shenandoah Telecommunications by 11.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,735 shares of the utilities provider’s stock worth $173,000 after acquiring an additional 1,380 shares during the period. Financial Engines Advisors L.L.C. bought a new stake in shares of Shenandoah Telecommunications during the 4th quarter valued at $190,000. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Shenandoah Telecommunications during the 4th quarter valued at $201,000. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Wall Street Analysts Forecast Growth

SHEN has been the subject of several research analyst reports. Wall Street Zen raised shares of Shenandoah Telecommunications to a “sell” rating in a research note on Thursday, May 8th. BWS Financial restated a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a report on Thursday, May 1st.

Insider Activity at Shenandoah Telecommunications

In other news, major shareholder Ecp Fiber Holdings Gp, Llc purchased 20,045 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was purchased at an average price of $12.30 per share, for a total transaction of $246,553.50. Following the completion of the acquisition, the insider now owns 2,500,697 shares of the company’s stock, valued at approximately $30,758,573.10. This trade represents a 0.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders bought 110,652 shares of company stock worth $1,362,700. Company insiders own 4.51% of the company’s stock.

Shenandoah Telecommunications Stock Performance

Shares of NASDAQ:SHEN opened at $12.92 on Wednesday. Shenandoah Telecommunications has a 12 month low of $9.77 and a 12 month high of $21.89. The firm’s 50-day moving average is $12.26 and its 200 day moving average is $12.23. The company has a market capitalization of $708.75 million, a price-to-earnings ratio of 3.41 and a beta of 0.82. 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 announced its earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.05). Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. The business had revenue of $87.90 million for the quarter, compared to analysts’ expectations of $89.31 million. During the same quarter last year, the firm earned ($0.07) EPS. Research analysts predict that Shenandoah Telecommunications will post -0.49 EPS for the current year.

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.