Louisiana State Employees Retirement System acquired a new position in shares of Shenandoah Telecommunications (NASDAQ:SHEN – Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 25,100 shares of the utilities provider’s stock, valued at approximately $543,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Handelsbanken Fonder AB bought a new stake in shares of Shenandoah Telecommunications in the 3rd quarter valued at about $205,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Shenandoah Telecommunications by 17.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,045 shares of the utilities provider’s stock worth $228,000 after buying an additional 1,674 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Shenandoah Telecommunications during the third quarter worth $333,000. Versor Investments LP bought a new stake in Shenandoah Telecommunications during the 3rd quarter valued at $340,000. Finally, Dark Forest Capital Management LP boosted its position in Shenandoah Telecommunications by 55.1% during the 3rd quarter. Dark Forest Capital Management LP now owns 19,087 shares of the utilities provider’s stock valued at $393,000 after acquiring an additional 6,777 shares in the last quarter. 61.96% of the stock is owned by institutional investors.
Shenandoah Telecommunications Trading Up 0.1 %
NASDAQ SHEN opened at $13.40 on Tuesday. Shenandoah Telecommunications has a 52 week low of $13.33 and a 52 week high of $25.51. The company has a 50 day moving average price of $16.84 and a 200 day moving average price of $19.97. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.45. The firm has a market cap of $676.03 million, a PE ratio of 83.76 and a beta of 0.52.
Wall Street Analysts Forecast Growth
Separately, BWS Financial upgraded Shenandoah Telecommunications from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Monday, March 4th.
Get Our Latest Analysis on SHEN
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.
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