RWA Wealth Partners LLC Makes New $2.58 Million Investment in Shenandoah Telecommunications (NASDAQ:SHEN)

RWA Wealth Partners LLC purchased a new position in Shenandoah Telecommunications (NASDAQ:SHEN) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 119,465 shares of the utilities provider’s stock, valued at approximately $2,583,000.

Several other institutional investors also recently added to or reduced their stakes in SHEN. Counterpoint Mutual Funds LLC bought a new position in Shenandoah Telecommunications in the 3rd quarter worth approximately $109,000. HTLF Bank bought a new stake in shares of Shenandoah Telecommunications during the fourth quarter valued at approximately $203,000. Handelsbanken Fonder AB bought a new stake in shares of Shenandoah Telecommunications during the third quarter valued at approximately $205,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Shenandoah Telecommunications by 17.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,045 shares of the utilities provider’s stock valued at $228,000 after purchasing an additional 1,674 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Shenandoah Telecommunications by 17.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,944 shares of the utilities provider’s stock valued at $280,000 after purchasing an additional 1,899 shares during the period. 61.96% of the stock is owned by institutional investors.

Shenandoah Telecommunications Stock Performance

SHEN opened at $14.04 on Wednesday. The stock’s 50 day simple moving average is $17.32 and its 200-day simple moving average is $20.20. Shenandoah Telecommunications has a 1 year low of $13.91 and a 1 year high of $25.51. The stock has a market cap of $708.32 million, a PE ratio of 87.76 and a beta of 0.52. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.45.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. Shenandoah Telecommunications had a return on equity of 1.24% and a net margin of 2.80%. The firm had revenue of $72.51 million during the quarter, compared to analyst estimates of $71.85 million. During the same period in the prior year, the company posted ($0.04) earnings per share. Sell-side analysts forecast that Shenandoah Telecommunications will post -0.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, BWS Financial upgraded Shenandoah Telecommunications from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Monday, March 4th.

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.