Goldman Sachs Group Inc. Has $6.70 Million Holdings in Shenandoah Telecommunications Co $SHEN

Key Points

• Goldman Sachs Group Inc. increased its holdings in Shenandoah Telecommunications by 27.8%, owning 532,984 shares worth approximately $6.7 million as of the end of the first quarter.
• Insider trading activity has seen major shareholders Ecp Fiber Holdings Gp, Llc and Ecp Controlco, Llc purchase over 16,541 shares combined in recent transactions, reflecting confidence in the company's stock.
• Shenandoah Telecommunications reported a quarterly EPS of ($0.19), beating estimates, but faced a downgrade to a "strong sell" rating from Wall Street Zen amid broader market concerns.

Goldman Sachs Group Inc. lifted its position in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN - Free Report) by 27.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 532,984 shares of the utilities provider's stock after acquiring an additional 116,040 shares during the period. Goldman Sachs Group Inc. owned 0.97% of Shenandoah Telecommunications worth $6,700,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings 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 valued at $6,841,000 after buying an additional 19,130 shares in the last quarter. Northern Trust Corp grew its position 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 buying an additional 6,904 shares in the last quarter. American Century Companies Inc. grew its position in Shenandoah Telecommunications by 12.8% in the 1st quarter. American Century Companies Inc. now owns 488,650 shares of the utilities provider's stock valued at $6,142,000 after buying an additional 55,432 shares in the last quarter. Millennium Management LLC boosted its position in shares of Shenandoah Telecommunications by 48.3% during the 1st quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider's stock valued at $5,644,000 after purchasing an additional 146,221 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position 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 valued at $3,148,000 after purchasing an additional 61,825 shares in the last quarter. Institutional investors own 61.96% of the company's stock.

Shenandoah Telecommunications Stock Performance

SHEN stock traded down $0.26 during midday trading on Friday, hitting $13.95. The stock had a trading volume of 101,743 shares, compared to its average volume of 292,934. The firm has a market capitalization of $765.30 million, a price-to-earnings ratio of -24.91 and a beta of 0.87. Shenandoah Telecommunications Co has a 52 week low of $9.77 and a 52 week high of $16.28. The stock has a 50-day simple moving average of $13.67 and a 200 day simple moving average of $13.08. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.56.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations 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, equities research analysts anticipate that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current year.

Insider Transactions at Shenandoah Telecommunications

In other news, major shareholder Ecp Fiber Holdings Gp, Llc acquired 30,000 shares of the company's stock in a transaction on Thursday, July 17th. The stock was purchased at an average cost of $14.62 per share, with a total value of $438,600.00. Following the acquisition, the insider owned 2,903,506 shares of the company's stock, valued at $42,449,257.72. This trade represents a 1.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ecp Controlco, Llc bought 30,000 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $12.52 per share, with a total value of $375,600.00. Following the completion of the transaction, the insider directly owned 3,221,550 shares in the company, valued at approximately $40,333,806. This trade represents a 0.94% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 653,196 shares of company stock valued at $9,094,126 over the last ninety days. 4.51% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of 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 company currently has a consensus rating of "Buy" and a consensus price target of $26.00.

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.