GAMMA Investing LLC Buys Shares of 1,302 Shenandoah Telecommunications (NASDAQ:SHEN)

GAMMA Investing LLC bought a new stake in Shenandoah Telecommunications (NASDAQ:SHEN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,302 shares of the utilities provider’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SHEN. RWA Wealth Partners LLC bought a new position in Shenandoah Telecommunications in the fourth quarter valued at about $2,583,000. American Century Companies Inc. grew its position in Shenandoah Telecommunications by 25.6% in the third quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock valued at $9,172,000 after acquiring an additional 90,695 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Shenandoah Telecommunications by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 709,168 shares of the utilities provider’s stock valued at $14,616,000 after acquiring an additional 51,827 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in Shenandoah Telecommunications in the third quarter valued at about $650,000. Finally, Louisiana State Employees Retirement System bought a new position in Shenandoah Telecommunications in the fourth quarter valued at about $543,000. Institutional investors own 61.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial restated a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Monday.

Shenandoah Telecommunications Stock Performance

NASDAQ:SHEN opened at $14.16 on Tuesday. The stock has a market cap of $714.37 million, a P/E ratio of 3.27 and a beta of 0.61. The company has a current ratio of 4.68, a quick ratio of 1.79 and a debt-to-equity ratio of 0.33. The stock’s 50-day moving average is $16.23 and its 200-day moving average is $19.65. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $25.51.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. The business had revenue of $72.51 million for the quarter, compared to analysts’ expectations of $71.85 million. During the same period in the prior year, the business posted ($0.04) earnings per share. Equities research analysts anticipate that Shenandoah Telecommunications will post -0.05 earnings per share for the current year.

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.