15,958 Shares in Shenandoah Telecommunications (NASDAQ:SHEN) Purchased by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC purchased a new position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 15,958 shares of the utilities provider’s stock, valued at approximately $201,000.

A number of other large investors also recently bought and sold shares of SHEN. Smartleaf Asset Management LLC grew its position in Shenandoah Telecommunications by 456.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock valued at $53,000 after buying an additional 3,531 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Shenandoah Telecommunications in the 4th quarter valued at approximately $260,000. Bank of New York Mellon Corp lifted its holdings in shares of 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 in the last quarter. Private Advisor Group LLC acquired a new stake in Shenandoah Telecommunications during the 4th quarter worth about $2,379,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Shenandoah Telecommunications by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 222,588 shares of the utilities provider’s stock worth $2,807,000 after purchasing an additional 6,323 shares during the period. Institutional investors own 61.96% of the company’s stock.

Analyst Ratings Changes

Separately, BWS Financial restated a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Tuesday, February 25th.

Shenandoah Telecommunications Stock Performance

Shares of NASDAQ SHEN opened at $11.16 on Wednesday. The company has a market cap of $610.15 million, a P/E ratio of 2.94 and a beta of 0.61. Shenandoah Telecommunications has a 12 month low of $9.77 and a 12 month high of $21.89. The business’s 50 day moving average is $11.64 and its two-hundred day moving average is $13.17. 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 posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The firm had revenue of $85.41 million during the quarter, compared to analyst estimates of $89.65 million. Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. On average, equities analysts expect that Shenandoah Telecommunications will post -0.49 EPS for the current year.

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.