TimesSquare Capital Management LLC Trims Position in Shenandoah Telecommunications (NASDAQ:SHEN)

TimesSquare Capital Management LLC decreased its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 13.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 550,129 shares of the utilities provider’s stock after selling 87,800 shares during the period. TimesSquare Capital Management LLC owned 1.10% of Shenandoah Telecommunications worth $26,852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its position in Shenandoah Telecommunications by 1.0% during the first quarter. BlackRock Inc. now owns 7,812,052 shares of the utilities provider’s stock worth $381,306,000 after purchasing an additional 74,701 shares during the last quarter. FMR LLC increased its position in Shenandoah Telecommunications by 13.5% during the first quarter. FMR LLC now owns 954,614 shares of the utilities provider’s stock worth $42,346,000 after purchasing an additional 113,516 shares during the last quarter. Norges Bank acquired a new stake in shares of Shenandoah Telecommunications in the fourth quarter worth $31,136,000. Bank of New York Mellon Corp increased its position in shares of Shenandoah Telecommunications by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 579,813 shares of the utilities provider’s stock worth $25,077,000 after acquiring an additional 32,478 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Shenandoah Telecommunications by 0.5% in the first quarter. Principal Financial Group Inc. now owns 400,775 shares of the utilities provider’s stock worth $19,562,000 after acquiring an additional 1,951 shares in the last quarter. 53.43% of the stock is currently owned by institutional investors and hedge funds.

In other Shenandoah Telecommunications news, VP Thomas A. Whitaker sold 6,627 shares of the stock in a transaction on Wednesday, June 9th. The shares were sold at an average price of $50.61, for a total transaction of $335,392.47. Following the transaction, the vice president now directly owns 36,492 shares in the company, valued at approximately $1,846,860.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William L. Pirtle sold 28,829 shares of the stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $51.12, for a total transaction of $1,473,738.48. Following the transaction, the senior vice president now owns 7,150 shares in the company, valued at $365,508. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,564 shares of company stock valued at $2,324,740. Company insiders own 4.13% of the company’s stock.

SHEN opened at $50.00 on Friday. The company’s fifty day moving average price is $49.68. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 15.20 and a beta of 0.39. Shenandoah Telecommunications has a twelve month low of $38.77 and a twelve month high of $56.77.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Thursday, April 29th. The utilities provider reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.95). The firm had revenue of $59.69 million for the quarter, compared to analyst estimates of $59.13 million. Shenandoah Telecommunications had a net margin of 48.16% and a return on equity of 6.21%. Sell-side analysts anticipate that Shenandoah Telecommunications will post 1.01 earnings per share for the current year.

SHEN has been the subject of several recent research reports. B. Riley reissued a “neutral” rating on shares of Shenandoah Telecommunications in a research report on Friday, May 14th. Zacks Investment Research lowered shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Thursday, May 6th. Finally, TheStreet lowered shares of Shenandoah Telecommunications from a “b” rating to a “c-” rating in a research report on Monday, May 3rd. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Shenandoah Telecommunications has a consensus rating of “Hold” and an average price target of $53.00.

Shenandoah Telecommunications Company 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. Its Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky, via hybrid fiber coaxial cable under the Shentel brand, fiber optic services under the Glo Fiber brand, and fixed wireless network services under the Beam brand name.

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

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