136,038 Shares in Shenandoah Telecommunications Co $SHEN Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in Shenandoah Telecommunications Co, purchasing 136,038 shares valued at approximately $1.71 million, representing about 0.25% of the company's stock.
• The company's stock was recently cut from a "hold" rating to a "strong sell" by Wall Street Zen, while other analysts maintain a consensus "Buy" rating with an average price target of $26.00.
• CEO Christopher E. French bought 16,800 shares at an average price of $11.83, increasing his ownership in the company, amidst a broader trend of insider buying in the past ninety days.

Nuveen LLC acquired a new position in Shenandoah Telecommunications Co (NASDAQ:SHEN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 136,038 shares of the utilities provider's stock, valued at approximately $1,710,000. Nuveen LLC owned about 0.25% of Shenandoah Telecommunications at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SHEN. Charles Schwab Investment Management Inc. grew its position in Shenandoah Telecommunications by 3.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 544,258 shares of the utilities provider's stock worth $6,841,000 after purchasing an additional 19,130 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Shenandoah Telecommunications by 1.3% in the fourth quarter. Northern Trust Corp now owns 523,981 shares of the utilities provider's stock valued at $6,607,000 after buying an additional 6,904 shares during the period. Millennium Management LLC increased its stake in Shenandoah Telecommunications by 28.8% during the fourth quarter. Millennium Management LLC now owns 302,755 shares of the utilities provider's stock valued at $3,818,000 after acquiring an additional 67,715 shares during the period. Private Advisor Group LLC raised its holdings in Shenandoah Telecommunications by 32.8% in 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 in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Shenandoah Telecommunications by 2.7% in 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 in the last quarter. 61.96% of the stock is currently owned by institutional investors and hedge funds.

Shenandoah Telecommunications Price Performance

Shares of NASDAQ SHEN traded down $0.18 during midday trading on Wednesday, reaching $12.77. 127,973 shares of the company traded hands, compared to its average volume of 289,278. Shenandoah Telecommunications Co has a 12 month low of $9.77 and a 12 month high of $16.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.73 and a current ratio of 0.73. The stock's 50-day simple moving average is $13.83 and its 200-day simple moving average is $12.88. The firm has a market cap of $700.56 million, a PE ratio of -22.80 and a beta of 0.87.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.20) by $0.01. The business had revenue of $88.57 million during the quarter, compared to analysts' expectations 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. As a group, equities analysts anticipate that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling

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

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.