Mawer Investment Management Ltd. Trims Stake in Shenandoah Telecommunications (SHEN)

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Mawer Investment Management Ltd. cut its position in Shenandoah Telecommunications (NASDAQ:SHEN) by 0.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,007,937 shares of the utilities provider’s stock after selling 1,526 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Shenandoah Telecommunications were worth $32,960,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prudential Financial Inc. grew its stake in shares of Shenandoah Telecommunications by 23.8% in the 1st quarter. Prudential Financial Inc. now owns 136,069 shares of the utilities provider’s stock valued at $4,899,000 after buying an additional 26,140 shares during the period. Millennium Management LLC acquired a new stake in shares of Shenandoah Telecommunications in the 4th quarter valued at about $459,000. Jane Street Group LLC acquired a new stake in shares of Shenandoah Telecommunications in the 1st quarter valued at about $280,000. Trexquant Investment LP acquired a new stake in shares of Shenandoah Telecommunications in the 1st quarter valued at about $1,618,000. Finally, Swiss National Bank grew its stake in shares of Shenandoah Telecommunications by 3.4% in the 1st quarter. Swiss National Bank now owns 81,272 shares of the utilities provider’s stock valued at $2,926,000 after buying an additional 2,700 shares during the period. Institutional investors own 49.35% of the company’s stock.

Several analysts have recently commented on SHEN shares. BidaskClub upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. ValuEngine upgraded Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a research note on Thursday, May 31st. Zacks Investment Research downgraded Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Finally, Raymond James downgraded Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating in a research note on Friday, May 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $45.50.

SHEN stock opened at $37.55 on Tuesday. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 144.42 and a beta of 0.50. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.41 and a quick ratio of 1.36. Shenandoah Telecommunications has a 52-week low of $29.92 and a 52-week high of $41.80.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The business had revenue of $154.03 million during the quarter, compared to the consensus estimate of $152.83 million. Shenandoah Telecommunications had a return on equity of 6.34% and a net margin of 12.60%. analysts forecast that Shenandoah Telecommunications will post 0.55 EPS for the current year.

In other Shenandoah Telecommunications news, VP Raymond B. Ostroski sold 9,000 shares of Shenandoah Telecommunications stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $36.53, for a total transaction of $328,770.00. Following the completion of the transaction, the vice president now owns 24,364 shares in the company, valued at approximately $890,016.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard A. Baughman sold 6,000 shares of Shenandoah Telecommunications stock in a transaction dated Thursday, June 28th. The shares were sold at an average price of $32.65, for a total value of $195,900.00. Following the transaction, the vice president now owns 42,624 shares of the company’s stock, valued at approximately $1,391,673.60. The disclosure for this sale can be found here. 6.84% of the stock is currently owned by insiders.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company, through its subsidiaries, provides regulated and unregulated telecommunications services to customers and other telecommunications providers in central and western Virginia, south-central Pennsylvania, West Virginia, Maryland, North Carolina, Kentucky, Tennessee, and Ohio.

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Institutional Ownership by Quarter for Shenandoah Telecommunications (NASDAQ:SHEN)

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