Shenandoah Telecommunications (NASDAQ:SHEN) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in Shenandoah Telecommunications (NASDAQ:SHEN) by 11.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 525,128 shares of the utilities provider’s stock after selling 68,453 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Shenandoah Telecommunications were worth $6,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Quest Partners LLC raised its position in shares of Shenandoah Telecommunications by 741.0% during the 3rd quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider’s stock worth $108,000 after buying an additional 6,728 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Shenandoah Telecommunications during the third quarter worth approximately $678,000. Intech Investment Management LLC bought a new stake in Shenandoah Telecommunications during the third quarter worth approximately $1,113,000. FMR LLC lifted its position in Shenandoah Telecommunications by 211.9% in the third quarter. FMR LLC now owns 105,789 shares of the utilities provider’s stock worth $1,493,000 after purchasing an additional 71,868 shares during the period. Finally, Quantbot Technologies LP boosted its stake in Shenandoah Telecommunications by 570.2% during the 3rd 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 in the last quarter. 61.96% of the stock is currently owned by institutional investors and hedge funds.

Shenandoah Telecommunications Trading Up 0.5 %

Shares of NASDAQ:SHEN opened at $12.84 on Tuesday. The stock has a market capitalization of $704.35 million, a price-to-earnings ratio of 3.39 and a beta of 0.71. Shenandoah Telecommunications has a 1-year low of $9.77 and a 1-year high of $21.89. The company has a 50 day moving average price of $11.57 and a 200 day moving average price of $12.91. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.79 and a current ratio of 0.82.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued 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). Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. The company had revenue of $85.41 million during the quarter, compared to analyst estimates of $89.65 million. On average, research analysts anticipate that Shenandoah Telecommunications will post -0.49 EPS for the current fiscal year.

Analyst Ratings Changes

SHEN has been the subject of several research analyst reports. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a report on Wednesday, March 19th. BWS Financial reissued a “buy” rating and issued a $26.00 price target 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.