Shenandoah Telecommunications (NASDAQ:SHEN) Shares Sold by Visionary Wealth Advisors

Visionary Wealth Advisors reduced its stake in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 7.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 26,390 shares of the utilities provider’s stock after selling 1,985 shares during the quarter. Visionary Wealth Advisors’ holdings in Shenandoah Telecommunications were worth $571,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in Shenandoah Telecommunications during the 4th quarter worth about $27,000. Quest Partners LLC acquired a new stake in shares of Shenandoah Telecommunications during the 4th quarter valued at about $41,000. HTLF Bank acquired a new stake in shares of Shenandoah Telecommunications during the 4th quarter valued at about $203,000. Victory Capital Management Inc. acquired a new stake in shares of Shenandoah Telecommunications during the 4th quarter valued at about $236,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Shenandoah Telecommunications by 17.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,944 shares of the utilities provider’s stock valued at $280,000 after acquiring an additional 1,899 shares during the period. 61.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SHEN has been the topic of a number of analyst reports. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a research report on Tuesday. BWS Financial reiterated a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Monday, May 6th.

Shenandoah Telecommunications Trading Up 4.0 %

SHEN stock opened at $16.92 on Wednesday. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.33. Shenandoah Telecommunications has a 12-month low of $11.87 and a 12-month high of $25.51. The stock has a market cap of $922.99 million, a price-to-earnings ratio of 3.91 and a beta of 0.72. The business’s 50-day moving average is $16.14 and its 200 day moving average is $18.57.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Friday, May 3rd. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. The firm had revenue of $69.25 million during the quarter, compared to analyst estimates of $71.52 million. On average, sell-side analysts anticipate that Shenandoah Telecommunications will post -0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Shenandoah Telecommunications news, CEO Christopher E. French bought 5,000 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were acquired at an average cost of $16.59 per share, with a total value of $82,950.00. Following the purchase, the chief executive officer now directly owns 324,750 shares of the company’s stock, valued at approximately $5,387,602.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Richard W. Mason, Jr. purchased 2,000 shares of Shenandoah Telecommunications stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average price of $14.73 per share, with a total value of $29,460.00. Following the transaction, the senior vice president now owns 14,501 shares in the company, valued at $213,599.73. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Christopher E. French purchased 5,000 shares of Shenandoah Telecommunications stock in a transaction dated Monday, June 10th. The shares were purchased at an average cost of $16.59 per share, for a total transaction of $82,950.00. Following the transaction, the chief executive officer now owns 324,750 shares in the company, valued at approximately $5,387,602.50. The disclosure for this purchase can be found here. Insiders have acquired 32,650 shares of company stock valued at $498,185 in the last ninety days. 4.37% of the stock is currently owned by corporate insiders.

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.