Gabelli Funds LLC Has $2.19 Million Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Gabelli Funds LLC lowered its holdings in Shenandoah Telecommunications (NASDAQ:SHEN) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 126,000 shares of the utilities provider’s stock after selling 4,200 shares during the quarter. Gabelli Funds LLC owned about 0.23% of Shenandoah Telecommunications worth $2,189,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of SHEN. Mirae Asset Global Investments Co. Ltd. boosted its stake in Shenandoah Telecommunications by 5.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,869 shares of the utilities provider’s stock worth $473,000 after purchasing an additional 1,219 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Shenandoah Telecommunications in the fourth quarter worth $543,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Shenandoah Telecommunications by 17.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,944 shares of the utilities provider’s stock worth $280,000 after purchasing an additional 1,899 shares in the last quarter. HTLF Bank acquired a new position in shares of Shenandoah Telecommunications during the fourth quarter valued at $203,000. Finally, RWA Wealth Partners LLC acquired a new position in shares of Shenandoah Telecommunications during the fourth quarter valued at $2,583,000. Institutional investors and hedge funds own 61.96% of the company’s stock.

Shenandoah Telecommunications Trading Up 1.6 %

NASDAQ:SHEN traded up $0.32 during mid-day trading on Friday, hitting $20.78. The company had a trading volume of 135,711 shares, compared to its average volume of 176,474. Shenandoah Telecommunications has a fifty-two week low of $11.87 and a fifty-two week high of $25.51. The business’s fifty day moving average is $17.59 and its two-hundred day moving average is $17.67. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.68 and a current ratio of 4.68. The firm has a market cap of $1.13 billion, a P/E ratio of 4.80 and a beta of 0.73.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Friday, May 3rd. The utilities provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Shenandoah Telecommunications had a net margin of 77.44% and a return on equity of 0.27%. The company had revenue of $69.25 million during the quarter, compared to analyst estimates of $71.52 million. As a group, research analysts expect that Shenandoah Telecommunications will post -0.13 earnings per share for the current year.

Analysts Set New Price Targets

SHEN has been the topic of several research reports. StockNews.com raised Shenandoah Telecommunications to a “sell” rating in a research note on Monday, June 24th. BWS Financial reaffirmed a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Monday, May 6th.

Insiders Place Their Bets

In other Shenandoah Telecommunications news, CEO Christopher E. French purchased 11,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was bought at an average cost of $14.69 per share, for a total transaction of $161,590.00. Following the completion of the acquisition, the chief executive officer now directly owns 319,750 shares of the company’s stock, valued at $4,697,127.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Christopher E. French acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average cost of $16.59 per share, for a total transaction of $82,950.00. Following the completion of the acquisition, the chief executive officer now owns 324,750 shares in the company, valued at $5,387,602.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher E. French acquired 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were purchased at an average price of $14.69 per share, with a total value of $161,590.00. Following the completion of the acquisition, the chief executive officer now owns 319,750 shares of the company’s stock, valued at approximately $4,697,127.50. The disclosure for this purchase can be found here. Insiders acquired 37,650 shares of company stock worth $577,135 over the last ninety days. 4.37% of the stock is currently owned by corporate insiders.

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.