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 increased its stake in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN - Free Report) by 26.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,480 shares of the utilities provider's stock after purchasing 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 institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Shenandoah Telecommunications by 3.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 544,258 shares of the utilities provider's stock valued at $6,841,000 after buying an additional 19,130 shares in the last quarter. Northern Trust Corp raised its holdings in Shenandoah Telecommunications by 1.3% in the 4th quarter. Northern Trust Corp now owns 523,981 shares of the utilities provider's stock valued at $6,607,000 after acquiring an additional 6,904 shares in the last quarter. Millennium Management LLC boosted 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 worth $3,818,000 after buying an additional 67,715 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Shenandoah Telecommunications by 32.8% during the first 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. Finally, Invesco Ltd. raised its holdings in 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 purchasing an additional 96,006 shares during the period. Hedge funds and other institutional investors own 61.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SHEN. Wall Street Zen cut shares of Shenandoah Telecommunications from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 10th. BWS Financial reissued a "buy" rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Shenandoah Telecommunications has an average rating of "Buy" and a consensus price target of $26.00.

Insider Transactions at Shenandoah Telecommunications

In other Shenandoah Telecommunications news, CEO Christopher E. French purchased 16,800 shares of the company's stock in a transaction on Monday, August 11th. The shares were purchased at an average cost of $11.83 per share, for a total transaction of $198,744.00. Following the completion of the transaction, the chief executive officer owned 410,517 shares in the company, valued at $4,856,416.11. The trade was a 4.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ecp Fiber Holdings Gp, Llc bought 10,560 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $12.54 per share, for a total transaction of $132,422.40. Following the acquisition, the insider directly owned 3,313,630 shares in the company, valued at $41,552,920.20. This trade represents a 0.32% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 830,196 shares of company stock valued at $11,309,312. 4.51% of the stock is currently owned by corporate insiders.

Shenandoah Telecommunications Stock Up 1.1%

Shares of SHEN traded up $0.1450 during midday trading on Monday, hitting $13.3250. 125,071 shares of the company's stock traded hands, compared to its average volume of 288,085. The stock has a market capitalization of $731.01 million, a price-to-earnings ratio of -23.79 and a beta of 0.90. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.56. The firm's fifty day moving average is $13.95 and its 200-day moving average is $12.82. Shenandoah Telecommunications Co has a 1 year low of $9.77 and a 1 year 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) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.01. The company had revenue of $88.57 million for the quarter, compared to analyst estimates 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. As a group, sell-side analysts anticipate that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current year.

Shenandoah Telecommunications 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.