Bank of America Corp DE Acquires 7,575 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

Bank of America Corp DE grew its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 13.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,872 shares of the utilities provider’s stock after purchasing an additional 7,575 shares during the quarter. Bank of America Corp DE owned approximately 0.12% of Shenandoah Telecommunications worth $818,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. PDT Partners LLC lifted its position in shares of Shenandoah Telecommunications by 45.9% during the 4th quarter. PDT Partners LLC now owns 18,563 shares of the utilities provider’s stock valued at $234,000 after buying an additional 5,843 shares during the last quarter. Northern Trust Corp raised its stake in Shenandoah Telecommunications by 1.3% in the 4th quarter. Northern Trust Corp now owns 523,981 shares of the utilities provider’s stock valued at $6,607,000 after acquiring an additional 6,904 shares during the period. Aquatic Capital Management LLC lifted its holdings in Shenandoah Telecommunications by 13.0% during the fourth quarter. Aquatic Capital Management LLC now owns 22,714 shares of the utilities provider’s stock valued at $286,000 after purchasing an additional 2,614 shares during the last quarter. Nebula Research & Development LLC lifted its holdings in Shenandoah Telecommunications by 5.5% during the fourth quarter. Nebula Research & Development LLC now owns 22,076 shares of the utilities provider’s stock valued at $278,000 after purchasing an additional 1,147 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new position in Shenandoah Telecommunications during the fourth quarter worth about $518,000. 61.96% of the stock is currently owned by institutional investors.

Shenandoah Telecommunications Stock Up 2.0%

Shares of NASDAQ SHEN opened at $13.50 on Monday. 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 has a 12 month low of $9.77 and a 12 month high of $21.89. The firm has a market capitalization of $740.57 million, a price-to-earnings ratio of 3.56 and a beta of 0.87. The business has a 50-day moving average of $12.29 and a 200-day moving average of $12.24.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $87.90 million during the quarter, compared to the consensus estimate of $89.31 million. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. Sell-side analysts expect that Shenandoah Telecommunications will post -0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. BWS Financial restated a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st. Wall Street Zen raised shares of Shenandoah Telecommunications to a “sell” rating in a report on Thursday, May 8th.

Insider Buying and Selling

In other news, major shareholder Ecp Fiber Holdings Gp, Llc acquired 20,045 shares of Shenandoah Telecommunications stock in a transaction that occurred on Wednesday, May 28th. The stock was bought at an average price of $12.30 per share, for a total transaction of $246,553.50. Following the completion of the transaction, the insider now owns 2,500,697 shares in the company, valued at $30,758,573.10. The trade was a 0.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ecp Controlco, Llc acquired 36,238 shares of the stock in a transaction dated Monday, June 2nd. The stock was acquired at an average price of $12.58 per share, for a total transaction of $455,874.04. Following the purchase, the insider now directly owns 2,599,274 shares in the company, valued at approximately $32,698,866.92. This trade represents a 1.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 203,353 shares of company stock valued at $2,547,870 over the last ninety days. Company insiders own 4.51% of the company’s stock.

Shenandoah Telecommunications Company Profile

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.