Empowered Funds LLC Invests $3.97 Million in Shenandoah Telecommunications Co $SHEN

Key Points

• Empowered Funds LLC acquired 263,553 shares of Shenandoah Telecommunications during the second quarter, investing approximately $3.97 million and taking a 0.48% stake. Institutional investors collectively own 61.96% of the company.
• Shenandoah Telecommunications reported a quarterly loss of $0.17 per share, outperforming the expected loss of $0.28, while revenue of $93.46 million slightly exceeded forecasts. Analysts expect a full-year loss of $0.85 per share.
• SHEN shares opened at $12.37, near the lower end of their 52-week range, and analysts maintain a consensus “Hold” rating with an average price target of $27.50. CFO James J. Volk also purchased nearly $50,000 of company stock.

Empowered Funds LLC purchased a new position in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 263,553 shares of the utilities provider's stock, valued at approximately $3,974,000. Empowered Funds LLC owned 0.48% of Shenandoah Telecommunications at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in shares of Shenandoah Telecommunications by 11,367.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,243 shares of the utilities provider's stock valued at $57,000 after acquiring an additional 4,206 shares during the last quarter. Caitlin John LLC acquired a new stake in shares of Shenandoah Telecommunications during the 2nd quarter worth about $69,000. State of Wyoming purchased a new stake in Shenandoah Telecommunications during the second quarter worth approximately $65,000. Tower Research Capital LLC TRC lifted its stake in Shenandoah Telecommunications by 80.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider's stock worth $68,000 after purchasing an additional 2,228 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new position in Shenandoah Telecommunications in the third quarter valued at approximately $67,000. 61.96% of the stock is owned by hedge funds and other institutional investors.

Shenandoah Telecommunications Stock Down 0.7%

SHEN opened at $12.37 on Tuesday. Shenandoah Telecommunications Co has a one year low of $9.66 and a one year high of $17.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $684.93 million, a P/E ratio of -15.86 and a beta of 0.68. The business's 50-day simple moving average is $12.83 and its 200-day simple moving average is $14.35.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its earnings results on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.11. The firm had revenue of $93.46 million during the quarter, compared to analysts' expectations of $92.83 million. Shenandoah Telecommunications had a negative return on equity of 4.54% and a negative net margin of 10.83%. Analysts anticipate that Shenandoah Telecommunications Co will post -0.85 EPS for the current year.

Analysts Set New Price Targets

SHEN has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Shenandoah Telecommunications from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Shenandoah Telecommunications in a research report on Friday, July 31st. Finally, BWS Financial restated a "buy" rating and issued a $26.00 target price 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, Shenandoah Telecommunications currently has an average rating of "Hold" and an average target price of $27.50.

Insiders Place Their Bets

In other news, CFO James J. Volk acquired 4,283 shares of Shenandoah Telecommunications stock in a transaction on Friday, July 31st. The stock was bought at an average price of $11.67 per share, for a total transaction of $49,982.61. Following the completion of the purchase, the chief financial officer owned 92,671 shares in the company, valued at $1,081,470.57. This represents a 4.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.01% of the company's stock.

Shenandoah Telecommunications Company 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.

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