Assenagon Asset Management S.A. Sells 9,935 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

Assenagon Asset Management S.A. cut its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 10.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,485 shares of the utilities provider’s stock after selling 9,935 shares during the quarter. Assenagon Asset Management S.A. owned about 0.18% of Shenandoah Telecommunications worth $2,811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHEN. Royal Bank of Canada grew its holdings in Shenandoah Telecommunications by 12.4% in the second quarter. Royal Bank of Canada now owns 27,167 shares of the utilities provider’s stock worth $1,046,000 after purchasing an additional 2,988 shares during the period. Nuveen Asset Management LLC acquired a new stake in Shenandoah Telecommunications in the second quarter worth $18,920,000. Price T Rowe Associates Inc. MD grew its holdings in Shenandoah Telecommunications by 5.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 69,170 shares of the utilities provider’s stock worth $2,664,000 after purchasing an additional 3,639 shares during the period. UBS Asset Management Americas Inc. grew its holdings in Shenandoah Telecommunications by 1.0% in the second quarter. UBS Asset Management Americas Inc. now owns 35,799 shares of the utilities provider’s stock worth $1,379,000 after purchasing an additional 346 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in Shenandoah Telecommunications by 13.3% in the second quarter. Cubist Systematic Strategies LLC now owns 22,449 shares of the utilities provider’s stock worth $865,000 after purchasing an additional 2,642 shares during the period. Institutional investors own 49.04% of the company’s stock.

Shares of SHEN traded down $0.41 during trading hours on Friday, reaching $37.45. 725,300 shares of the stock traded hands, compared to its average volume of 218,651. The company has a current ratio of 1.68, a quick ratio of 1.64 and a debt-to-equity ratio of 2.22. Shenandoah Telecommunications has a 52 week low of $29.61 and a 52 week high of $51.41. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 40.27 and a beta of 0.34. The stock has a fifty day simple moving average of $32.08 and a 200 day simple moving average of $36.48.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). Shenandoah Telecommunications had a return on equity of 12.28% and a net margin of 8.87%. The company had revenue of $155.15 million during the quarter, compared to analysts’ expectations of $163.96 million. Analysts predict that Shenandoah Telecommunications will post 1.14 earnings per share for the current fiscal year.

The business also recently declared an annual dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be paid a $0.29 dividend. This represents a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.27. Shenandoah Telecommunications’s payout ratio is currently 29.03%.

A number of research analysts have weighed in on the stock. Raymond James raised shares of Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a research note on Wednesday, August 7th. B. Riley dropped their price objective on shares of Shenandoah Telecommunications from $54.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday. ValuEngine raised shares of Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a research note on Saturday, October 5th. BidaskClub lowered shares of Shenandoah Telecommunications from a “sell” rating to a “strong sell” rating in a research note on Friday, September 20th. Finally, Zacks Investment Research raised shares of Shenandoah Telecommunications from a “sell” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Shenandoah Telecommunications has an average rating of “Buy” and an average price target of $45.75.

Shenandoah Telecommunications Profile

Shenandoah Telecommunications Company, through its subsidiaries, primarily provides wireless, cable, and wireline telecommunications services to customers and other telecommunications providers. The company operates in three segments: Wireless, Cable, and Wireline. The Wireless segment provides digital wireless mobile services; and wireless mobility communications network products and services.

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

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