Public Sector Pension Investment Board Buys 30,643 Shares of Shenandoah Telecommunications Co $SHEN

Public Sector Pension Investment Board increased its stake in Shenandoah Telecommunications Co (NASDAQ:SHEN) by 26.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,480 shares of the utilities provider’s stock after acquiring an additional 30,643 shares during the quarter. Public Sector Pension Investment Board owned 0.27% of Shenandoah Telecommunications worth $1,829,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Age Alpha Advisors LLC bought a new stake in Shenandoah Telecommunications during the 1st quarter valued at $90,000. Two Sigma Investments LP bought a new stake in Shenandoah Telecommunications during the 4th quarter valued at $126,000. Tower Research Capital LLC TRC increased its stake in Shenandoah Telecommunications by 11.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,735 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 1,380 shares in the last quarter. Quantinno Capital Management LP bought a new stake in Shenandoah Telecommunications during the 4th quarter valued at $175,000. Finally, ProShare Advisors LLC increased its stake in Shenandoah Telecommunications by 44.7% during the 4th quarter. ProShare Advisors LLC now owns 14,622 shares of the utilities provider’s stock valued at $184,000 after purchasing an additional 4,517 shares in the last quarter. Institutional investors own 61.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Shenandoah Telecommunications from a “hold” rating to a “strong sell” rating in a research note on Sunday, August 10th. BWS Financial reiterated a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $26.00.

Shenandoah Telecommunications Price Performance

SHEN opened at $12.53 on Thursday. The firm has a market cap of $687.40 million, a P/E ratio of -22.37 and a beta of 0.90. The firm has a 50-day moving average of $13.98 and a 200 day moving average of $12.77. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.73 and a current ratio of 0.73. Shenandoah Telecommunications Co has a fifty-two week low of $9.77 and a fifty-two week high of $16.89.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. The company had revenue of $88.57 million during the quarter, compared to analyst estimates of $89.94 million. Shenandoah Telecommunications had a negative net margin of 8.90% and a negative return on equity of 3.78%. Shenandoah Telecommunications has set its FY 2025 guidance at EPS. On average, research analysts expect that Shenandoah Telecommunications Co will post -0.49 EPS for the current year.

Insider Activity

In related news, major shareholder Ecp Fiber Holdings Gp, Llc purchased 32,000 shares of Shenandoah Telecommunications stock in a transaction that occurred on Thursday, May 29th. The stock was bought at an average price of $12.46 per share, for a total transaction of $398,720.00. Following the completion of the transaction, the insider owned 2,532,697 shares in the company, valued at $31,557,404.62. This represents a 1.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ecp Controlco, Llc purchased 36,238 shares of Shenandoah Telecommunications stock in a transaction that occurred on Monday, June 2nd. The shares were bought at an average price of $12.58 per share, with a total value of $455,874.04. Following the transaction, the insider owned 2,599,274 shares of the company’s stock, valued at $32,698,866.92. This trade represents a 1.41% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 830,196 shares of company stock valued at $11,309,312. 4.51% of the stock is owned by company insiders.

Shenandoah Telecommunications 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.