PAX Financial Group LLC Increases Position in Shenandoah Telecommunications (NASDAQ:SHEN)

PAX Financial Group LLC boosted its holdings in Shenandoah Telecommunications (NASDAQ:SHEN) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,118 shares of the utilities provider’s stock after purchasing an additional 1,353 shares during the period. PAX Financial Group LLC owned about 0.07% of Shenandoah Telecommunications worth $468,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Shenandoah Telecommunications by 211.9% during the 3rd 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. Barclays PLC grew its holdings in Shenandoah Telecommunications by 339.4% during the 3rd quarter. Barclays PLC now owns 80,151 shares of the utilities provider’s stock worth $1,131,000 after acquiring an additional 61,910 shares in the last quarter. Jane Street Group LLC increased its position in shares of Shenandoah Telecommunications by 101.2% in the 3rd quarter. Jane Street Group LLC now owns 95,703 shares of the utilities provider’s stock worth $1,350,000 after purchasing an additional 48,127 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Shenandoah Telecommunications by 135.2% in the 4th quarter. GAMMA Investing LLC now owns 8,722 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 5,013 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Shenandoah Telecommunications by 456.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 3,531 shares during the last quarter. Institutional investors and hedge funds own 61.96% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on SHEN shares. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a research note on Wednesday, March 19th. BWS Financial reissued a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Tuesday, February 25th.

Shenandoah Telecommunications Price Performance

Shares of NASDAQ:SHEN opened at $12.35 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.44. The firm has a 50-day simple moving average of $11.79 and a 200 day simple moving average of $12.80. Shenandoah Telecommunications has a fifty-two week low of $9.77 and a fifty-two week high of $21.89. The company has a market cap of $677.47 million, a PE ratio of 3.26 and a beta of 0.71.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Thursday, February 20th. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $89.65 million. On average, sell-side analysts anticipate 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.