Visionary Wealth Advisors Makes New Investment in Shenandoah Telecommunications Co $SHEN

Visionary Wealth Advisors purchased a new stake in Shenandoah Telecommunications Co (NASDAQ:SHEN) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 42,555 shares of the utilities provider’s stock, valued at approximately $642,000.

Several other institutional investors have also modified their holdings of SHEN. BlackRock Inc. purchased a new stake in shares of Shenandoah Telecommunications during the second quarter worth $106,907,000. ECP ControlCo LLC boosted its holdings in Shenandoah Telecommunications by 2.4% in the fourth quarter. ECP ControlCo LLC now owns 3,457,105 shares of the utilities provider’s stock valued at $39,964,000 after purchasing an additional 79,872 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Shenandoah Telecommunications by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,639,113 shares of the utilities provider’s stock valued at $35,416,000 after purchasing an additional 39,653 shares during the period. State Street Corp grew its stake in Shenandoah Telecommunications by 1.7% during the 4th quarter. State Street Corp now owns 1,927,155 shares of the utilities provider’s stock worth $22,278,000 after purchasing an additional 31,375 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Shenandoah Telecommunications by 1,116.6% during the 4th quarter. Millennium Management LLC now owns 1,087,246 shares of the utilities provider’s stock worth $12,569,000 after purchasing an additional 997,882 shares in the last quarter. Institutional investors and hedge funds own 61.96% of the company’s stock.

Insider Activity

In related news, CFO James J. Volk purchased 4,283 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average price of $11.67 per share, with a total value of $49,982.61. Following the completion of the acquisition, the chief financial officer directly owned 92,671 shares in the company, valued at $1,081,470.57. This represents a 4.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SHEN. BWS Financial reaffirmed a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shenandoah Telecommunications in a research note on Friday, July 31st. Finally, Wall Street Zen raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Shenandoah Telecommunications currently has a consensus rating of “Hold” and a consensus target price of $27.50.

Shenandoah Telecommunications Stock Down 0.2%

SHEN stock opened at $12.30 on Tuesday. The company has a market cap of $680.99 million, a price-to-earnings ratio of -15.77 and a beta of 0.68. The company has a fifty day moving average price of $13.04 and a 200 day moving average price of $14.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.85. Shenandoah Telecommunications Co has a 12 month low of $9.66 and a 12 month high of $17.34.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.11. The company had revenue of $93.46 million for the quarter, compared to the consensus estimate of $92.83 million. Shenandoah Telecommunications had a negative net margin of 10.83% and a negative return on equity of 4.54%. Sell-side analysts expect that Shenandoah Telecommunications Co will post -0.85 earnings per share for the current year.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.