Alberta Investment Management Corp Buys New Holdings in Shenandoah Telecommunications Co (NASDAQ:SHEN)

Key Points

• Alberta Investment Management Corp has acquired a new position in Shenandoah Telecommunications Co (NASDAQ:SHEN), purchasing 65,127 shares valued at approximately $819,000 during the first quarter.
• Analysts have recently upgraded Shenandoah Telecommunications, with Wall Street Zen moving the stock from a "sell" rating to a "hold" and BWS Financial maintaining a "buy" rating with a price target of $26.00.
• Shenandoah Telecommunications reported a quarterly loss of ($0.19) EPS, though it exceeded analysts' expectations, despite revenues falling short of estimates at $88.57 million.

Alberta Investment Management Corp acquired a new position in Shenandoah Telecommunications Co (NASDAQ:SHEN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 65,127 shares of the utilities provider's stock, valued at approximately $819,000. Alberta Investment Management Corp owned about 0.12% of Shenandoah Telecommunications as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in Shenandoah Telecommunications by 75.4% during the 1st quarter. GAMMA Investing LLC now owns 15,295 shares of the utilities provider's stock valued at $192,000 after acquiring an additional 6,573 shares during the period. Principal Financial Group Inc. lifted its stake in Shenandoah Telecommunications by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 228,612 shares of the utilities provider's stock valued at $2,874,000 after acquiring an additional 6,024 shares during the period. Private Advisor Group LLC lifted its stake in Shenandoah Telecommunications by 32.8% during the 1st quarter. Private Advisor Group LLC now owns 250,471 shares of the utilities provider's stock valued at $3,148,000 after acquiring an additional 61,825 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Shenandoah Telecommunications during the 4th quarter valued at about $126,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Shenandoah Telecommunications by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider's stock worth $349,000 after buying an additional 1,061 shares during the period. Hedge funds and other institutional investors own 61.96% of the company's stock.

Shenandoah Telecommunications Trading Up 2.9%

Shares of SHEN traded up $0.37 during mid-day trading on Tuesday, reaching $13.28. The stock had a trading volume of 390,996 shares, compared to its average volume of 330,380. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.73. Shenandoah Telecommunications Co has a 52-week low of $9.77 and a 52-week high of $18.68. The business's fifty day moving average is $14.10 and its 200 day moving average is $12.68. The firm has a market cap of $728.54 million, a price-to-earnings ratio of -23.71 and a beta of 0.90.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.01. The firm 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%. On average, sell-side analysts predict that Shenandoah Telecommunications Co will post -0.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Ecp Fiber Holdings Gp, Llc bought 30,000 shares of the stock in a transaction on Friday, August 1st. The stock was bought at an average price of $13.48 per share, with a total value of $404,400.00. Following the completion of the purchase, the insider directly owned 3,094,541 shares in the company, valued at $41,714,412.68. This represents a 0.98% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ecp Controlco, Llc bought 17,303 shares of the stock in a transaction on Wednesday, July 30th. The shares were bought at an average cost of $14.88 per share, with a total value of $257,468.64. Following the purchase, the insider owned 3,041,694 shares of the company's stock, valued at $45,260,406.72. This trade represents a 0.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 624,307 shares of company stock worth $8,719,008 in the last 90 days. Company insiders own 4.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wall Street Zen upgraded Shenandoah Telecommunications from a "sell" rating to a "hold" rating in a report on Saturday. BWS Financial restated a "buy" rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Thursday, May 1st.

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.