Mirae Asset Global Investments Co. Ltd. Acquires 1,219 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,869 shares of the utilities provider’s stock after acquiring an additional 1,219 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Shenandoah Telecommunications were worth $473,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Handelsbanken Fonder AB acquired a new stake in Shenandoah Telecommunications during the third quarter valued at approximately $205,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Shenandoah Telecommunications by 17.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,045 shares of the utilities provider’s stock valued at $228,000 after buying an additional 1,674 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Shenandoah Telecommunications in the third quarter valued at $333,000. Versor Investments LP acquired a new position in Shenandoah Telecommunications during the third quarter worth $340,000. Finally, Dark Forest Capital Management LP raised its stake in Shenandoah Telecommunications by 55.1% during the third quarter. Dark Forest Capital Management LP now owns 19,087 shares of the utilities provider’s stock worth $393,000 after acquiring an additional 6,777 shares in the last quarter. Institutional investors own 61.96% of the company’s stock.

Shenandoah Telecommunications Stock Performance

NASDAQ:SHEN opened at $13.39 on Friday. The stock has a market capitalization of $675.53 million, a P/E ratio of 83.69 and a beta of 0.52. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.45. Shenandoah Telecommunications has a 1 year low of $13.33 and a 1 year high of $25.51. The firm has a 50 day moving average of $16.96 and a 200-day moving average of $20.05.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Shenandoah Telecommunications had a return on equity of 1.24% and a net margin of 2.80%. The business had revenue of $72.51 million during the quarter, compared to analysts’ expectations of $71.85 million. During the same period in the previous year, the business posted ($0.04) earnings per share. As a group, sell-side analysts anticipate that Shenandoah Telecommunications will post -0.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, BWS Financial raised shares of Shenandoah Telecommunications from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Monday, March 4th.

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. 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.