Wells Fargo & Company MN Boosts Stake in Shenandoah Telecommunications (SHEN)

Wells Fargo & Company MN grew its holdings in Shenandoah Telecommunications (NASDAQ:SHEN) by 28.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 85,915 shares of the utilities provider’s stock after buying an additional 18,862 shares during the quarter. Wells Fargo & Company MN’s holdings in Shenandoah Telecommunications were worth $3,196,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Macquarie Group Ltd. bought a new stake in shares of Shenandoah Telecommunications in the third quarter valued at approximately $138,000. Ameritas Investment Partners Inc. raised its position in shares of Shenandoah Telecommunications by 9.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,079 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 347 shares during the period. Pacad Investment Ltd. raised its position in shares of Shenandoah Telecommunications by 5.0% in the second quarter. Pacad Investment Ltd. now owns 4,200 shares of the utilities provider’s stock valued at $129,000 after purchasing an additional 200 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Shenandoah Telecommunications by 790.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,521 shares of the utilities provider’s stock valued at $169,000 after purchasing an additional 4,901 shares during the period. Finally, Trexquant Investment LP bought a new stake in shares of Shenandoah Telecommunications in the third quarter valued at approximately $218,000. 48.41% of the stock is currently owned by institutional investors.

SHEN has been the topic of several research reports. TheStreet lowered shares of Shenandoah Telecommunications from a “b-” rating to a “c+” rating in a research report on Friday, November 10th. Zacks Investment Research raised shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, BidaskClub lowered shares of Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $35.00.

Shenandoah Telecommunications (NASDAQ:SHEN) opened at $32.00 on Thursday. The company has a market cap of $1,570.00, a P/E ratio of 290.91 and a beta of 0.69. Shenandoah Telecommunications has a 12 month low of $25.35 and a 12 month high of $41.80. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.28 and a current ratio of 1.34.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. The company had revenue of $151.80 million during the quarter, compared to analysts’ expectations of $153.64 million. Shenandoah Telecommunications had a net margin of 0.91% and a return on equity of 4.04%. Shenandoah Telecommunications’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.16) earnings per share. equities analysts forecast that Shenandoah Telecommunications will post 0.16 EPS for the current year.

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About Shenandoah Telecommunications

Shenandoah Telecommunications Company is a telecommunications holding company. The Company’s segments are Wireless, Cable, Wireline and Other. The Company, through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio.

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Institutional Ownership by Quarter for Shenandoah Telecommunications (NASDAQ:SHEN)

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