Cornerstone Investment Partners LLC Takes $201,000 Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Cornerstone Investment Partners LLC acquired a new stake in shares of Shenandoah Telecommunications (NASDAQ:SHEN) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 15,958 shares of the utilities provider’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SHEN. Quest Partners LLC boosted its holdings in shares of Shenandoah Telecommunications by 741.0% in the third quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider’s stock valued at $108,000 after buying an additional 6,728 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Shenandoah Telecommunications in the third quarter valued at $678,000. Intech Investment Management LLC bought a new position in Shenandoah Telecommunications during the third quarter worth about $1,113,000. 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 worth $1,493,000 after acquiring an additional 71,868 shares during the period. Finally, Quantbot Technologies LP boosted its position in Shenandoah Telecommunications by 570.2% during the third quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 6,244 shares during the period. Institutional investors and hedge funds own 61.96% of the company’s stock.

Analyst Ratings Changes

Separately, BWS Financial reaffirmed a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Tuesday, February 25th.

Shenandoah Telecommunications Price Performance

Shenandoah Telecommunications stock opened at $11.16 on Wednesday. The firm has a market cap of $610.15 million, a PE ratio of 2.94 and a beta of 0.61. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.79. The stock’s fifty day moving average price is $11.64 and its two-hundred day moving average price is $13.17. Shenandoah Telecommunications has a one year low of $9.77 and a one year high of $21.89.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The firm had revenue of $85.41 million for the quarter, compared to the consensus estimate of $89.65 million. Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. As a group, research analysts expect that Shenandoah Telecommunications will post -0.49 EPS for the current fiscal 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.