Corebridge Financial Inc. Has $326,000 Holdings in Shenandoah Telecommunications (NASDAQ:SHEN)

Corebridge Financial Inc. decreased its stake in Shenandoah Telecommunications (NASDAQ:SHEN) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,833 shares of the utilities provider’s stock after selling 2,012 shares during the period. Corebridge Financial Inc.’s holdings in Shenandoah Telecommunications were worth $326,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Shenandoah Telecommunications by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,529,847 shares of the utilities provider’s stock valued at $69,731,000 after purchasing an additional 68,133 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of Shenandoah Telecommunications by 16.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,012,685 shares of the utilities provider’s stock valued at $12,770,000 after buying an additional 140,314 shares during the period. Bank of New York Mellon Corp grew its position in Shenandoah Telecommunications by 8.3% during the fourth quarter. Bank of New York Mellon Corp now owns 454,540 shares of the utilities provider’s stock worth $5,732,000 after buying an additional 34,740 shares in the last quarter. American Century Companies Inc. increased its stake in Shenandoah Telecommunications by 12.5% during the fourth quarter. American Century Companies Inc. now owns 433,218 shares of the utilities provider’s stock valued at $5,463,000 after acquiring an additional 48,233 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Shenandoah Telecommunications by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 222,588 shares of the utilities provider’s stock valued at $2,807,000 after acquiring an additional 6,323 shares during the period. Institutional investors own 61.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com raised Shenandoah Telecommunications to a “sell” rating in a report on Friday. BWS Financial reiterated a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Tuesday, February 25th.

Shenandoah Telecommunications Stock Performance

NASDAQ SHEN opened at $12.50 on Friday. Shenandoah Telecommunications has a twelve month low of $9.77 and a twelve month high of $21.89. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock has a market cap of $685.70 million, a P/E ratio of 3.30 and a beta of 0.81. The company’s 50-day simple moving average is $11.98 and its 200 day simple moving average is $12.67.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The company had revenue of $85.41 million during the quarter, compared to the consensus estimate of $89.65 million. Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. As a group, research analysts forecast that Shenandoah Telecommunications will post -0.49 earnings per share for the current fiscal 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.