Invesco Ltd. Trims Stock Holdings in Shenandoah Telecommunications Co $SHEN

Key Points

• Invesco Ltd. decreased its holdings in Shenandoah Telecommunications Co by 8.4% during the first quarter, now owning approximately 0.40% of the company with a value of $2,762,000.
• Shenandoah Telecommunications reported a quarterly earnings loss of ($0.19) earnings per share, beating expectations, but had a negative return on equity of 3.78%.
• Analysts have recently downgraded Shenandoah Telecommunications stock from a "hold" rating to a "strong sell" rating, reflecting less favorable outlooks from at least one investment firm.

Invesco Ltd. decreased its position in Shenandoah Telecommunications Co (NASDAQ:SHEN - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,764 shares of the utilities provider's stock after selling 20,092 shares during the quarter. Invesco Ltd. owned approximately 0.40% of Shenandoah Telecommunications worth $2,762,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Shenandoah Telecommunications by 75.4% in the first quarter. GAMMA Investing LLC now owns 15,295 shares of the utilities provider's stock worth $192,000 after purchasing an additional 6,573 shares during the last quarter. Principal Financial Group Inc. raised 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 purchasing an additional 6,024 shares during the period. Private Advisor Group LLC raised its holdings in shares of Shenandoah Telecommunications by 32.8% during the 1st quarter. Private Advisor Group LLC now owns 250,471 shares of the utilities provider's stock worth $3,148,000 after acquiring an additional 61,825 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Shenandoah Telecommunications in the 4th quarter worth about $126,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 valued at $349,000 after buying an additional 1,061 shares in the last quarter. Institutional investors own 61.96% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Shenandoah Telecommunications from a "hold" rating to a "strong sell" rating in a research note on Sunday, August 10th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $26.00.

Insider Activity

In other news, major shareholder Ecp Controlco, Llc bought 30,000 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $12.52 per share, for a total transaction of $375,600.00. Following the purchase, the insider owned 3,221,550 shares of the company's stock, valued at approximately $40,333,806. This trade represents a 0.94% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Ecp Fiber Holdings Gp, Llc purchased 30,000 shares of Shenandoah Telecommunications stock in a transaction dated Thursday, July 17th. The shares were purchased at an average price of $14.62 per share, for a total transaction of $438,600.00. Following the completion of the acquisition, the insider owned 2,903,506 shares of the company's stock, valued at approximately $42,449,257.72. The trade was a 1.04% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 686,059 shares of company stock valued at $9,544,696 in the last three months. 4.51% of the stock is owned by insiders.

Shenandoah Telecommunications Price Performance

Shares of Shenandoah Telecommunications stock traded down $0.18 on Wednesday, hitting $12.77. The company's stock had a trading volume of 127,973 shares, compared to its average volume of 289,278. The firm has a fifty day moving average price of $13.83 and a 200-day moving average price of $12.88. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $700.56 million, a P/E ratio of -22.80 and a beta of 0.87. Shenandoah Telecommunications Co has a 52-week low of $9.77 and a 52-week high of $16.89.

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

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.