35,041 Shares in Shenandoah Telecommunications (NASDAQ:SHEN) Bought by AQR Capital Management LLC

AQR Capital Management LLC acquired a new position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 35,041 shares of the utilities provider’s stock, valued at approximately $572,000. AQR Capital Management LLC owned 0.06% of Shenandoah Telecommunications at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHEN. Marshall Wace LLP acquired a new stake in Shenandoah Telecommunications in the second quarter valued at $480,000. GCM Grosvenor Holdings LLC purchased a new position in Shenandoah Telecommunications during the second quarter worth about $66,959,000. Magnetar Financial LLC purchased a new position in Shenandoah Telecommunications during the second quarter worth about $257,000. Public Sector Pension Investment Board lifted its position in Shenandoah Telecommunications by 5.8% during the second quarter. Public Sector Pension Investment Board now owns 110,379 shares of the utilities provider’s stock worth $1,802,000 after buying an additional 6,072 shares during the period. Finally, Gabelli Funds LLC lifted its position in Shenandoah Telecommunications by 11.5% during the second quarter. Gabelli Funds LLC now owns 140,500 shares of the utilities provider’s stock worth $2,294,000 after buying an additional 14,500 shares during the period. Institutional investors and hedge funds own 61.96% of the company’s stock.

Shenandoah Telecommunications Stock Performance

SHEN opened at $12.76 on Tuesday. The company has a market capitalization of $696.31 million, a price-to-earnings ratio of 3.15 and a beta of 0.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $25.51. The business has a 50 day moving average price of $14.66 and a two-hundred day moving average price of $16.10.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). Shenandoah Telecommunications had a net margin of 68.81% and a negative return on equity of 0.48%. The company had revenue of $85.80 million for the quarter, compared to analyst estimates of $86.12 million. Research analysts predict that Shenandoah Telecommunications will post -0.26 EPS for the current fiscal year.

Insider Activity

In other Shenandoah Telecommunications news, COO Edward H. Mckay bought 2,000 shares of Shenandoah Telecommunications stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $14.15 per share, for a total transaction of $28,300.00. Following the completion of the acquisition, the chief operating officer now directly owns 68,951 shares of the company’s stock, valued at approximately $975,656.65. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Edward H. Mckay purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $14.15 per share, with a total value of $28,300.00. Following the completion of the purchase, the chief operating officer now owns 68,951 shares of the company’s stock, valued at $975,656.65. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher E. French purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average cost of $14.02 per share, for a total transaction of $70,100.00. Following the completion of the purchase, the chief executive officer now directly owns 86,485 shares of the company’s stock, valued at $1,212,519.70. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 14,700 shares of company stock worth $212,745. Insiders own 4.37% of the company’s stock.

Wall Street Analyst Weigh In

SHEN has been the topic of a number of research reports. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a report on Tuesday, July 30th. BWS Financial reiterated a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Thursday, August 8th.

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.