Nuveen Asset Management LLC Sells 101,670 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

Nuveen Asset Management LLC decreased its holdings in Shenandoah Telecommunications (NASDAQ:SHEN) by 42.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 136,038 shares of the utilities provider’s stock after selling 101,670 shares during the quarter. Nuveen Asset Management LLC’s holdings in Shenandoah Telecommunications were worth $1,715,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Shenandoah Telecommunications by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,529,847 shares of the utilities provider’s stock worth $69,731,000 after purchasing an additional 68,133 shares in the last quarter. Northern Trust Corp boosted its holdings in Shenandoah Telecommunications by 1.3% in the fourth quarter. Northern Trust Corp now owns 523,981 shares of the utilities provider’s stock valued at $6,607,000 after purchasing an additional 6,904 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Shenandoah Telecommunications by 8.3% in the fourth quarter. Bank of New York Mellon Corp now owns 454,540 shares of the utilities provider’s stock valued at $5,732,000 after purchasing an additional 34,740 shares during the last quarter. American Century Companies Inc. boosted its holdings in Shenandoah Telecommunications by 12.5% in the fourth quarter. American Century Companies Inc. now owns 433,218 shares of the utilities provider’s stock valued at $5,463,000 after purchasing an additional 48,233 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Shenandoah Telecommunications by 28.8% during the 4th quarter. Millennium Management LLC now owns 302,755 shares of the utilities provider’s stock worth $3,818,000 after acquiring an additional 67,715 shares in the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.

Shenandoah Telecommunications Stock Performance

Shares of SHEN stock opened at $12.92 on Wednesday. The stock has a market capitalization of $708.75 million, a PE ratio of 3.41 and a beta of 0.82. The firm has a 50 day moving average of $12.26 and a two-hundred day moving average of $12.23. Shenandoah Telecommunications has a 52 week low of $9.77 and a 52 week 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.

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

Insider Activity

In other news, major shareholder Ecp Fiber Holdings Gp, Llc purchased 28,268 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were acquired at an average cost of $11.91 per share, for a total transaction of $336,671.88. Following the completion of the purchase, the insider now directly owns 2,480,652 shares in the company, valued at $29,544,565.32. The trade was a 1.15% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders acquired 110,652 shares of company stock valued at $1,362,700. Insiders own 4.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SHEN shares. BWS Financial reaffirmed a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of Shenandoah Telecommunications to a “sell” rating in a report on Thursday, May 8th.

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.