Shenandoah Telecommunications (NASDAQ:SHEN) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in Shenandoah Telecommunications (NASDAQ:SHEN) by 13.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,705 shares of the utilities provider’s stock after selling 4,430 shares during the period. PNC Financial Services Group Inc.’s holdings in Shenandoah Telecommunications were worth $375,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SHEN. Versant Capital Management Inc increased its holdings in shares of Shenandoah Telecommunications by 10,890.9% in the 4th quarter. Versant Capital Management Inc now owns 2,418 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 2,396 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Shenandoah Telecommunications by 456.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 3,531 shares during the last quarter. Quantbot Technologies LP increased its stake in Shenandoah Telecommunications by 570.2% in the third quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock valued at $104,000 after purchasing an additional 6,244 shares during the last quarter. Quest Partners LLC raised its holdings in Shenandoah Telecommunications by 741.0% during the third quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 6,728 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Shenandoah Telecommunications by 135.2% during the 4th quarter. GAMMA Investing LLC now owns 8,722 shares of the utilities provider’s stock worth $110,000 after buying an additional 5,013 shares during the last quarter. 61.96% of the stock is owned by hedge funds and other institutional investors.

Shenandoah Telecommunications Price Performance

Shares of NASDAQ SHEN opened at $12.45 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.44. The stock has a market cap of $682.96 million, a P/E ratio of 3.28 and a beta of 0.71. The stock has a 50 day moving average of $11.53 and a two-hundred day moving average of $12.97. Shenandoah Telecommunications has a twelve month low of $9.77 and a twelve month high of $21.89.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. The business had revenue of $85.41 million for the quarter, compared to analyst estimates of $89.65 million. On average, research analysts forecast that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SHEN shares. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a research report on Wednesday. BWS Financial reaffirmed a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Tuesday, February 25th.

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.