Two Sigma Investments LP Takes $126,000 Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Two Sigma Investments LP purchased a new position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,031 shares of the utilities provider’s stock, valued at approximately $126,000.

Other large investors have also recently made changes to their positions in the company. Private Advisor Group LLC acquired a new stake in Shenandoah Telecommunications during the 4th quarter worth $2,379,000. Invesco Ltd. boosted its position in Shenandoah Telecommunications by 66.7% during the fourth quarter. Invesco Ltd. now owns 239,856 shares of the utilities provider’s stock worth $3,025,000 after acquiring an additional 96,006 shares during the last quarter. Marshall Wace LLP acquired a new position in Shenandoah Telecommunications during the fourth quarter worth about $1,052,000. Vanguard Group Inc. grew its stake in Shenandoah Telecommunications by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,529,847 shares of the utilities provider’s stock valued at $69,731,000 after acquiring an additional 68,133 shares in the last quarter. Finally, Natural Investments LLC purchased a new stake in Shenandoah Telecommunications during the 4th quarter valued at about $854,000. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at Shenandoah Telecommunications

In other Shenandoah Telecommunications news, major shareholder Ecp Controlco, Llc purchased 36,238 shares of the stock in a transaction dated Monday, June 2nd. The stock was acquired at an average cost of $12.58 per share, for a total transaction of $455,874.04. Following the acquisition, the insider now owns 2,599,274 shares in the company, valued at $32,698,866.92. This trade represents a 1.41% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 bought 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 in the company, valued at $30,758,573.10. This trade represents a 0.81% increase in their position. The disclosure for this purchase can be found here. Insiders bought 227,037 shares of company stock worth $2,868,844 in the last 90 days. Insiders own 4.51% of the company’s stock.

Shenandoah Telecommunications Stock Down 0.4%

NASDAQ SHEN opened at $13.88 on Friday. The business’s fifty day simple moving average is $12.36 and its 200-day simple moving average is $12.27. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.44. The firm has a market cap of $761.42 million, a PE ratio of 3.66 and a beta of 0.87. Shenandoah Telecommunications has a 52 week low of $9.77 and a 52 week 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 (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The firm had revenue of $87.90 million for the quarter, compared to analyst estimates of $89.31 million. Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. During the same quarter in the previous year, the business posted ($0.07) earnings per share. As a group, equities analysts anticipate that Shenandoah Telecommunications will post -0.49 earnings per share 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.