42,555 Shares in Shenandoah Telecommunications Co $SHEN Purchased by Visionary Wealth Advisors

Visionary Wealth Advisors acquired a new stake in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 42,555 shares of the utilities provider’s stock, valued at approximately $642,000. Visionary Wealth Advisors owned approximately 0.08% of Shenandoah Telecommunications at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Shenandoah Telecommunications in the 2nd quarter worth approximately $305,000. Quantbot Technologies LP purchased a new stake in shares of Shenandoah Telecommunications in the second quarter valued at approximately $501,000. BlackRock Inc. acquired a new stake in shares of Shenandoah Telecommunications in the second quarter valued at approximately $106,907,000. Deutsche Bank AG acquired a new stake in shares of Shenandoah Telecommunications in the second quarter valued at approximately $808,000. Finally, Bank of New York Mellon Corp purchased a new position in Shenandoah Telecommunications during the second quarter worth approximately $4,041,000. Institutional investors and hedge funds own 61.96% of the company’s stock.

Wall Street Analysts Forecast Growth

SHEN has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Shenandoah Telecommunications in a research note on Friday, July 31st. Wall Street Zen raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, BWS Financial reiterated a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.50.

Insider Buying and Selling

In other news, CFO James J. Volk bought 4,283 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average cost of $11.67 per share, for a total transaction of $49,982.61. Following the acquisition, the chief financial officer directly owned 92,671 shares of the company’s stock, valued at $1,081,470.57. The trade was a 4.85% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 5.01% of the stock is owned by company insiders.

Shenandoah Telecommunications Stock Down 0.2%

Shares of NASDAQ SHEN opened at $12.30 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $13.04 and its two-hundred day moving average is $14.34. Shenandoah Telecommunications Co has a 52-week low of $9.66 and a 52-week high of $17.34. The firm has a market cap of $680.99 million, a price-to-earnings ratio of -15.77 and a beta of 0.68.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.11. The business had revenue of $93.46 million during the quarter, compared to analyst estimates of $92.83 million. Shenandoah Telecommunications had a negative return on equity of 4.54% and a negative net margin of 10.83%. Research analysts predict that Shenandoah Telecommunications Co will post -0.85 EPS for the current year.

Shenandoah Telecommunications Profile

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.