GAMMA Investing LLC Has $2.42 Million Position in Shenandoah Telecommunications (NASDAQ:SHEN)

GAMMA Investing LLC raised its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 2,104.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,258 shares of the utilities provider’s stock after purchasing an additional 183,536 shares during the quarter. GAMMA Investing LLC owned 0.35% of Shenandoah Telecommunications worth $2,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHEN. Rhumbline Advisers increased its stake in Shenandoah Telecommunications by 4.1% during the 4th quarter. Rhumbline Advisers now owns 150,079 shares of the utilities provider’s stock valued at $1,892,000 after purchasing an additional 5,862 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Shenandoah Telecommunications by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 222,588 shares of the utilities provider’s stock worth $2,807,000 after acquiring an additional 6,323 shares during the last quarter. Private Advisor Group LLC purchased a new position in Shenandoah Telecommunications during the 4th quarter worth $2,379,000. Bank of New York Mellon Corp boosted its holdings in Shenandoah Telecommunications by 8.3% during the 4th quarter. Bank of New York Mellon Corp now owns 454,540 shares of the utilities provider’s stock worth $5,732,000 after acquiring an additional 34,740 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Shenandoah Telecommunications during the 4th quarter worth $260,000. Institutional investors own 61.96% of the company’s stock.

Analyst Ratings Changes

SHEN has been the topic of a number of research reports. Wall Street Zen upgraded Shenandoah Telecommunications to a “sell” rating in a research note on Thursday, May 8th. BWS Financial reiterated a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Thursday, May 1st.

Insiders Place Their Bets

In other Shenandoah Telecommunications news, major shareholder Ecp Controlco, Llc acquired 13,000 shares of Shenandoah Telecommunications stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average cost of $13.19 per share, for a total transaction of $171,470.00. Following the acquisition, the insider now owns 2,655,737 shares of the company’s stock, valued at $35,029,171.03. This represents a 0.49% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 acquired at an average price of $12.30 per share, with a total value of $246,553.50. Following the completion of the acquisition, the insider now directly owns 2,500,697 shares in the company, valued at $30,758,573.10. This represents a 0.81% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 227,037 shares of company stock worth $2,868,844. 4.51% of the stock is owned by corporate insiders.

Shenandoah Telecommunications Stock Down 0.4%

Shares of SHEN opened at $13.88 on Friday. The firm has a market cap of $761.42 million, a P/E ratio of 3.66 and a beta of 0.87. The stock has a 50 day simple moving average of $12.36 and a two-hundred day simple moving average of $12.27. 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 has a 1 year low of $9.77 and a 1 year high of $21.89.

Shenandoah Telecommunications (NASDAQ:SHEN) last released 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). The company had revenue of $87.90 million for the quarter, compared to analysts’ expectations of $89.31 million. Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. During the same period last year, the company posted ($0.07) EPS. On average, analysts forecast that Shenandoah Telecommunications will post -0.49 earnings per share for the current fiscal year.

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.