JPMorgan Chase & Co. Sells 12,955 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

JPMorgan Chase & Co. lowered its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 65.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,700 shares of the utilities provider’s stock after selling 12,955 shares during the quarter. JPMorgan Chase & Co.’s holdings in Shenandoah Telecommunications were worth $253,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SHEN. Schwab Charles Investment Management Inc. lifted its holdings in Shenandoah Telecommunications by 4.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 209,274 shares of the utilities provider’s stock valued at $6,425,000 after purchasing an additional 8,902 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Shenandoah Telecommunications by 4.9% in the second quarter. Legal & General Group Plc now owns 19,232 shares of the utilities provider’s stock worth $590,000 after buying an additional 902 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Shenandoah Telecommunications by 790.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,521 shares of the utilities provider’s stock worth $169,000 after buying an additional 4,901 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Shenandoah Telecommunications by 89.2% in the second quarter. Wells Fargo & Company MN now owns 67,053 shares of the utilities provider’s stock worth $2,059,000 after buying an additional 31,620 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in shares of Shenandoah Telecommunications by 7.0% in the second quarter. Teachers Advisors LLC now owns 84,767 shares of the utilities provider’s stock worth $2,602,000 after buying an additional 5,538 shares in the last quarter. 48.49% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on SHEN. Zacks Investment Research downgraded shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Saturday, January 27th. BidaskClub raised shares of Shenandoah Telecommunications from a “strong sell” rating to a “sell” rating in a report on Thursday, January 25th. BWS Financial set a $50.00 target price on shares of Shenandoah Telecommunications and gave the stock a “buy” rating in a report on Wednesday, January 24th. Finally, TheStreet downgraded shares of Shenandoah Telecommunications from a “b-” rating to a “c+” rating in a report on Friday, November 10th. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. Shenandoah Telecommunications presently has a consensus rating of “Hold” and an average target price of $50.00.

Shenandoah Telecommunications (NASDAQ:SHEN) traded up $0.25 during trading on Friday, reaching $30.75. 94,599 shares of the company were exchanged, compared to its average volume of 108,469. The stock has a market capitalization of $1,514.90, a P/E ratio of 123.00 and a beta of 0.71. The company has a current ratio of 1.34, a quick ratio of 1.28 and a debt-to-equity ratio of 2.60. Shenandoah Telecommunications has a 52 week low of $25.50 and a 52 week high of $41.80.

ILLEGAL ACTIVITY NOTICE: “JPMorgan Chase & Co. Sells 12,955 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)” was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://stocknewstimes.com/2018/02/11/jpmorgan-chase-co-sells-12955-shares-of-shenandoah-telecommunications-shen.html.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company is a telecommunications holding company. The Company’s segments are Wireless, Cable, Wireline and Other. The Company, through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio.

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

Receive News & Ratings for Shenandoah Telecommunications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shenandoah Telecommunications and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply