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

Key Points

• The Public Sector Pension Investment Board increased its stake in Shenandoah Telecommunications Co by 26.7%, now holding 145,480 shares valued at approximately $1.83 million.
• Shenandoah Telecommunications recently reported a quarterly earnings per share of ($0.19), slightly beating the consensus estimate.
• Wall Street analysts have mixed opinions on the stock, with one firm downgrading it to a "strong sell" while another maintains a "buy" rating and a target price of $26.00.

Public Sector Pension Investment Board grew its holdings in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN - Free Report) by 26.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. 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 quarter.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Shenandoah Telecommunications by 3.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 544,258 shares of the utilities provider's stock worth $6,841,000 after buying an additional 19,130 shares during the period. Northern Trust Corp increased 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 worth $6,607,000 after buying an additional 6,904 shares during the period. Millennium Management LLC increased its stake in shares of Shenandoah Telecommunications by 28.8% in the fourth quarter. Millennium Management LLC now owns 302,755 shares of the utilities provider's stock worth $3,818,000 after buying an additional 67,715 shares during the period. Private Advisor Group LLC increased its stake in shares of Shenandoah Telecommunications by 32.8% in the first quarter. Private Advisor Group LLC now owns 250,471 shares of the utilities provider's stock worth $3,148,000 after buying an additional 61,825 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Shenandoah Telecommunications by 66.7% in the fourth quarter. Invesco Ltd. now owns 239,856 shares of the utilities provider's stock worth $3,025,000 after buying an additional 96,006 shares during the period. 61.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. BWS Financial reaffirmed a "buy" rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st. 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 research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $26.00.

Insider Transactions at Shenandoah Telecommunications

In other Shenandoah Telecommunications news, major shareholder Ecp Controlco, Llc bought 36,238 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was acquired 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 in the company, valued at $32,698,866.92. This represents a 1.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Ecp Fiber Holdings Gp, Llc bought 32,000 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was acquired at an average cost of $12.46 per share, with a total value of $398,720.00. Following the transaction, the insider owned 2,532,697 shares in the company, valued at $31,557,404.62. The trade was a 1.28% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 807,428 shares of company stock valued at $11,044,650. 4.51% of the stock is owned by insiders.

Shenandoah Telecommunications Stock Up 0.2%

Shares of SHEN stock traded up $0.02 during mid-day trading on Tuesday, reaching $13.25. 433,693 shares of the company's stock traded hands, compared to its average volume of 345,731. Shenandoah Telecommunications Co has a 12 month low of $9.77 and a 12 month high of $16.89. The company has a market cap of $726.90 million, a P/E ratio of -23.66 and a beta of 0.90. 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's 50-day moving average price is $13.91 and its 200-day moving average price is $12.84.

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 analysts' consensus estimates of ($0.20) by $0.01. The firm had revenue of $88.57 million for 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. On average, equities 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.