Shenandoah Telecommunications (NASDAQ:SHEN) Holdings Cut by Voya Investment Management LLC

Voya Investment Management LLC trimmed its stake in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 8.8% during the fourth quarter, Holdings Channel reports. The firm owned 15,335 shares of the utilities provider’s stock after selling 1,487 shares during the period. Voya Investment Management LLC’s holdings in Shenandoah Telecommunications were worth $193,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its position in Shenandoah Telecommunications by 456.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock worth $53,000 after buying an additional 3,531 shares during the period. KLP Kapitalforvaltning AS bought a new position in Shenandoah Telecommunications in the 4th quarter worth about $101,000. Tower Research Capital LLC TRC increased its stake in shares of Shenandoah Telecommunications by 11.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,735 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 1,380 shares during the period. Financial Engines Advisors L.L.C. acquired a new stake in shares of Shenandoah Telecommunications in the fourth quarter valued at approximately $190,000. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Shenandoah Telecommunications during the fourth quarter valued at approximately $201,000. Institutional investors and hedge funds own 61.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SHEN. BWS Financial reissued a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, May 1st. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a research note on Thursday, May 8th.

Shenandoah Telecommunications Stock Performance

SHEN opened at $11.99 on Wednesday. The business has a 50 day moving average price of $12.45 and a two-hundred day moving average price of $12.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.79. The company has a market capitalization of $657.74 million, a price-to-earnings ratio of 3.16 and a beta of 0.82. Shenandoah Telecommunications has a 1-year low of $9.77 and a 1-year high of $21.89.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The business had revenue of $87.90 million during the quarter, compared to the consensus estimate of $89.31 million. Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. During the same quarter last year, the firm posted ($0.07) earnings per share. Research analysts predict that Shenandoah Telecommunications will post -0.49 EPS for the current fiscal year.

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.