Elk Creek Partners LLC Lowers Stake in Shenandoah Telecommunications Co (SHEN)

Elk Creek Partners LLC lessened its holdings in Shenandoah Telecommunications Co (NASDAQ:SHEN) by 9.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 267,100 shares of the utilities provider’s stock after selling 27,598 shares during the period. Elk Creek Partners LLC owned about 0.54% of Shenandoah Telecommunications worth $8,200,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SHEN. SG Americas Securities LLC purchased a new stake in shares of Shenandoah Telecommunications in the 1st quarter worth approximately $105,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Shenandoah Telecommunications in the 1st quarter worth approximately $105,000. Pacad Investment Ltd. lifted its position in shares of Shenandoah Telecommunications by 5.0% in the 2nd quarter. Pacad Investment Ltd. now owns 4,200 shares of the utilities provider’s stock worth $129,000 after purchasing an additional 200 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of Shenandoah Telecommunications by 790.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,521 shares of the utilities provider’s stock worth $169,000 after purchasing an additional 4,901 shares during the period. Finally, Alpha Omega Wealth Management LLC lifted its position in shares of Shenandoah Telecommunications by 5.5% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 5,800 shares of the utilities provider’s stock worth $178,000 after purchasing an additional 300 shares during the period. 49.26% of the stock is owned by hedge funds and other institutional investors.

SHEN has been the subject of several research reports. BidaskClub cut shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research cut shares of Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, ValuEngine raised shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $35.50.

Shenandoah Telecommunications Co (NASDAQ SHEN) traded up 1.03% during midday trading on Friday, reaching $34.45. 611,595 shares of the company were exchanged. The firm has a 50-day moving average price of $35.02 and a 200-day moving average price of $31.24. Shenandoah Telecommunications Co has a 52 week low of $22.05 and a 52 week high of $37.90. The company’s market capitalization is $1.69 billion.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. Shenandoah Telecommunications had a negative net margin of 0.89% and a positive return on equity of 5.43%. The firm had revenue of $153.30 million during the quarter, compared to analysts’ expectations of $153.83 million. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities research analysts anticipate that Shenandoah Telecommunications Co will post $0.10 earnings per share for the current fiscal year.

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Shenandoah Telecommunications Profile

Shenandoah Telecommunications Company is a telecommunications holding company. The Company’s segments are Wireless, Cable, Wireline and Other. The Company, through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio.

Institutional Ownership by Quarter for Shenandoah Telecommunications (NASDAQ:SHEN)

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