Standard Life Aberdeen plc decreased its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 69.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 212,282 shares of the utilities provider’s stock after selling 479,837 shares during the period. Standard Life Aberdeen plc owned about 0.43% of Shenandoah Telecommunications worth $9,178,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SHEN. Martingale Asset Management L P raised its stake in shares of Shenandoah Telecommunications by 1,490.3% during the fourth quarter. Martingale Asset Management L P now owns 132,029 shares of the utilities provider’s stock valued at $5,843,000 after acquiring an additional 123,727 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in Shenandoah Telecommunications by 11.7% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 72,680 shares of the utilities provider’s stock worth $3,216,000 after buying an additional 7,590 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Shenandoah Telecommunications by 8.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 44,957 shares of the utilities provider’s stock worth $1,990,000 after buying an additional 3,498 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Shenandoah Telecommunications during the fourth quarter worth $240,000. Finally, PNC Financial Services Group Inc. bought a new position in Shenandoah Telecommunications during the fourth quarter worth $5,541,000. Institutional investors and hedge funds own 46.31% of the company’s stock.
NASDAQ:SHEN traded up $0.34 during trading hours on Monday, reaching $45.46. The company had a trading volume of 19,674 shares, compared to its average volume of 181,734. The company has a current ratio of 1.50, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 48.88 and a beta of 0.53. Shenandoah Telecommunications has a twelve month low of $29.92 and a twelve month high of $51.41.
A number of equities analysts recently weighed in on SHEN shares. BidaskClub downgraded shares of Shenandoah Telecommunications from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 16th. B. Riley lifted their target price on shares of Shenandoah Telecommunications from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. BWS Financial reissued a “buy” rating on shares of Shenandoah Telecommunications in a research note on Monday, January 28th. Finally, Zacks Investment Research raised shares of Shenandoah Telecommunications from a “hold” rating to a “strong-buy” rating and set a $51.00 target price for the company in a research note on Thursday, November 15th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Shenandoah Telecommunications has an average rating of “Buy” and a consensus price target of $52.50.
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Shenandoah Telecommunications Company Profile
Shenandoah Telecommunications Company, through its subsidiaries, provides regulated and unregulated telecommunications services to customers and other telecommunications providers in central and western Virginia, south-central Pennsylvania, West Virginia, Maryland, North Carolina, Kentucky, Tennessee, and Ohio.
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