UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Holdings in Shenandoah Telecommunications (NASDAQ:SHEN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,557 shares of the utilities provider’s stock after purchasing an additional 8,253 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.27% of Shenandoah Telecommunications worth $1,848,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SHEN. Visionary Wealth Advisors boosted its holdings in Shenandoah Telecommunications by 29.5% in the 4th quarter. Visionary Wealth Advisors now owns 36,705 shares of the utilities provider’s stock worth $463,000 after buying an additional 8,355 shares during the period. Two Sigma Investments LP bought a new position in shares of Shenandoah Telecommunications in the fourth quarter worth $126,000. ProShare Advisors LLC grew its position in shares of Shenandoah Telecommunications by 44.7% in the fourth quarter. ProShare Advisors LLC now owns 14,622 shares of the utilities provider’s stock valued at $184,000 after purchasing an additional 4,517 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in Shenandoah Telecommunications during the 4th quarter worth about $175,000. Finally, Numerai GP LLC purchased a new stake in Shenandoah Telecommunications during the 4th quarter worth about $518,000. Institutional investors own 61.96% of the company’s stock.

Shenandoah Telecommunications Price Performance

SHEN stock opened at $13.50 on Friday. The firm has a 50 day simple moving average of $12.29 and a two-hundred day simple moving average of $12.24. The stock has a market cap of $740.57 million, a PE ratio of 3.56 and a beta of 0.87. Shenandoah Telecommunications has a one year low of $9.77 and a one year high of $21.89. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.79.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly 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 negative return on equity of 2.50% and a net margin of 58.03%. The firm had revenue of $87.90 million for the quarter, compared to the consensus estimate of $89.31 million. During the same period last year, the firm earned ($0.07) EPS. On average, analysts predict that Shenandoah Telecommunications will post -0.49 EPS for the current fiscal year.

Insider Transactions at Shenandoah Telecommunications

In related news, major shareholder Ecp Controlco, Llc purchased 13,000 shares of the stock in a transaction dated Thursday, June 5th. The stock was purchased at an average price of $13.19 per share, with a total value of $171,470.00. Following the transaction, the insider now directly owns 2,655,737 shares in the company, valued at $35,029,171.03. This trade represents a 0.49% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ecp Fiber Holdings Gp, Llc acquired 28,268 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average cost of $11.91 per share, for a total transaction of $336,671.88. Following the completion of the transaction, the insider now directly owns 2,480,652 shares in the company, valued at $29,544,565.32. This represents a 1.15% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 203,353 shares of company stock valued at $2,547,870. Company insiders own 4.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. BWS Financial reiterated a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Thursday, May 1st. Wall Street Zen upgraded Shenandoah Telecommunications to a “sell” rating in a research report on Thursday, May 8th.

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.