Connor Clark & Lunn Investment Management Ltd. Boosts Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 40.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 67,402 shares of the utilities provider’s stock after acquiring an additional 19,380 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Shenandoah Telecommunications were worth $850,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SHEN. Quest Partners LLC lifted its stake 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 during the last quarter. Intech Investment Management LLC purchased a new stake in Shenandoah Telecommunications in the third quarter valued at approximately $1,113,000. FMR LLC lifted its stake in Shenandoah Telecommunications by 211.9% in the third quarter. FMR LLC now owns 105,789 shares of the utilities provider’s stock valued at $1,493,000 after buying an additional 71,868 shares during the last quarter. Quantbot Technologies LP lifted 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 buying an additional 6,244 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Shenandoah Telecommunications in the third quarter valued at approximately $336,000. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Analyst Ratings Changes

SHEN has been the subject of a number of research reports. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a research note on Wednesday. BWS Financial reiterated a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Tuesday, February 25th.

Shenandoah Telecommunications Trading Up 2.7 %

NASDAQ:SHEN opened at $12.78 on Friday. The firm has a market cap of $701.06 million, a P/E ratio of 3.37 and a beta of 0.71. 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’s 50 day simple moving average is $11.54 and its 200-day simple moving average is $12.95. Shenandoah Telecommunications has a 12-month low of $9.77 and a 12-month high of $21.89.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Thursday, February 20th. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The company 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%. Equities analysts anticipate that Shenandoah Telecommunications will post -0.49 EPS for the current year.

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.