JPMorgan Chase & Co. Grows Position in Shenandoah Telecommunications (NASDAQ:SHEN)

JPMorgan Chase & Co. raised its position in Shenandoah Telecommunications (NASDAQ:SHEN) by 42.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 219,276 shares of the utilities provider’s stock after purchasing an additional 65,426 shares during the period. JPMorgan Chase & Co.’s holdings in Shenandoah Telecommunications were worth $2,765,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SHEN. Versant Capital Management Inc grew its stake in shares of Shenandoah Telecommunications by 10,890.9% during the fourth quarter. Versant Capital Management Inc now owns 2,418 shares of the utilities provider’s stock valued at $30,000 after buying an additional 2,396 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Shenandoah Telecommunications by 456.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 3,531 shares during the period. KLP Kapitalforvaltning AS bought a new position in Shenandoah Telecommunications in the 4th quarter valued at $101,000. GAMMA Investing LLC increased its stake in Shenandoah Telecommunications by 135.2% in the fourth quarter. GAMMA Investing LLC now owns 8,722 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 5,013 shares during the period. Finally, Financial Engines Advisors L.L.C. purchased a new stake in Shenandoah Telecommunications in the fourth quarter worth $190,000. Institutional investors own 61.96% of the company’s stock.

Wall Street Analysts Forecast Growth

SHEN has been the subject of a number of recent analyst reports. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a research note on Friday, April 11th. BWS Financial reiterated a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Tuesday, February 25th.

Shenandoah Telecommunications Stock Up 1.0 %

Shares of NASDAQ SHEN opened at $12.94 on Wednesday. Shenandoah Telecommunications has a 52-week low of $9.77 and a 52-week high of $21.89. The firm has a market capitalization of $709.84 million, a price-to-earnings ratio of 3.41 and a beta of 0.81. The stock has a 50 day moving average price of $12.19 and a 200 day moving average price of $12.61. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.79 and a current ratio of 0.82.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results 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). Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. The firm had revenue of $85.41 million during the quarter, compared to analysts’ expectations of $89.65 million. Sell-side analysts expect that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Shenandoah Telecommunications 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.