Citadel Advisors LLC Sells 80,392 Shares of Shenandoah Telecommunications Co (SHEN)

Citadel Advisors LLC reduced its stake in Shenandoah Telecommunications Co (NASDAQ:SHEN) by 84.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,615 shares of the utilities provider’s stock after selling 80,392 shares during the period. Citadel Advisors LLC’s holdings in Shenandoah Telecommunications were worth $449,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legato Capital Management LLC purchased a new stake in shares of Shenandoah Telecommunications in the second quarter worth $2,346,000. American International Group Inc. grew its stake in shares of Shenandoah Telecommunications by 7.1% in the first quarter. American International Group Inc. now owns 28,484 shares of the utilities provider’s stock worth $799,000 after acquiring an additional 1,877 shares during the last quarter. Sit Investment Associates Inc. grew its stake in shares of Shenandoah Telecommunications by 1.6% in the second quarter. Sit Investment Associates Inc. now owns 57,650 shares of the utilities provider’s stock worth $1,770,000 after acquiring an additional 900 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Shenandoah Telecommunications by 4.9% in the first quarter. Vanguard Group Inc. now owns 3,673,593 shares of the utilities provider’s stock worth $103,043,000 after acquiring an additional 172,459 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Shenandoah Telecommunications in the first quarter worth $508,000. 49.26% of the stock is currently owned by hedge funds and other institutional investors.

SHEN has been the topic of a number of recent research reports. BidaskClub cut Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Zacks Investment Research cut Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, ValuEngine raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $35.00.

Shenandoah Telecommunications Co (NASDAQ:SHEN) opened at 38.85 on Tuesday. The stock’s 50 day moving average price is $36.62 and its 200-day moving average price is $32.57. The company’s market capitalization is $1.91 billion. Shenandoah Telecommunications Co has a one year low of $22.05 and a one year high of $41.80.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.06. Shenandoah Telecommunications had a positive return on equity of 5.43% and a negative net margin of 0.89%. The business had revenue of $153.30 million for the quarter, compared to the consensus estimate of $153.83 million. Shenandoah Telecommunications’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities analysts forecast that Shenandoah Telecommunications Co will post $0.11 EPS for the current year.

In other news, insider Earle A. Mackenzie sold 46,000 shares of Shenandoah Telecommunications stock in a transaction on Monday, September 25th. The stock was sold at an average price of $38.93, for a total value of $1,790,780.00. Following the transaction, the insider now directly owns 118,047 shares in the company, valued at approximately $4,595,569.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.24% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This story was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another domain, it

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legato Capital Management LLC purchased a new stake in shares of Shenandoah Telecommunications in the second quarter worth $2,346,000. American International Group Inc. grew its stake in shares of Shenandoah Telecommunications by 7.1% in the first quarter. American International Group Inc. now owns 28,484 shares of the utilities provider’s stock worth $799,000 after acquiring an additional 1,877 shares during the last quarter. Sit Investment Associates Inc. grew its stake in shares of Shenandoah Telecommunications by 1.6% in the second quarter. Sit Investment Associates Inc. now owns 57,650 shares of the utilities provider’s stock worth $1,770,000 after acquiring an additional 900 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Shenandoah Telecommunications by 4.9% in the first quarter. Vanguard Group Inc. now owns 3,673,593 shares of the utilities provider’s stock worth $103,043,000 after acquiring an additional 172,459 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Shenandoah Telecommunications in the first quarter worth $508,000. 49.26% of the stock is currently owned by hedge funds and other institutional investors.

SHEN has been the topic of a number of recent research reports. BidaskClub cut Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Zacks Investment Research cut Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, ValuEngine raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $35.00.

Shenandoah Telecommunications Co (NASDAQ:SHEN) opened at 38.85 on Tuesday. The stock’s 50 day moving average price is $36.62 and its 200-day moving average price is $32.57. The company’s market capitalization is $1.91 billion. Shenandoah Telecommunications Co has a one year low of $22.05 and a one year high of $41.80.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.06. Shenandoah Telecommunications had a positive return on equity of 5.43% and a negative net margin of 0.89%. The business had revenue of $153.30 million for the quarter, compared to the consensus estimate of $153.83 million. Shenandoah Telecommunications’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities analysts forecast that Shenandoah Telecommunications Co will post $0.11 EPS for the current year.

In other news, insider Earle A. Mackenzie sold 46,000 shares of Shenandoah Telecommunications stock in a transaction on Monday, September 25th. The stock was sold at an average price of $38.93, for a total value of $1,790,780.00. Following the transaction, the insider now directly owns 118,047 shares in the company, valued at approximately $4,595,569.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.24% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This story was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://ledgergazette.com/2017/10/10/citadel-advisors-llc-sells-80392-shares-of-shenandoah-telecommunications-co-shen.html.

About Shenandoah Telecommunications

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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