28,600 Shares in Shenandoah Telecommunications Co $SHEN Purchased by Versor Investments LP

Key Points

• Versor Investments LP has invested $360,000 in Shenandoah Telecommunications Co, acquiring 28,600 shares, which represents about 0.05% of the company.
• Shenandoah Telecommunications stock is currently trading at $12.53, with a market capitalization of $687.40 million and a consensus price target of $26.00 from analysts.
• Insider trading activity has been notable, with significant acquisitions by major shareholders, including CEO Christopher E. French, who increased his stake by 4.27%.

Versor Investments LP purchased a new position in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 28,600 shares of the utilities provider's stock, valued at approximately $360,000. Versor Investments LP owned approximately 0.05% of Shenandoah Telecommunications as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHEN. New Age Alpha Advisors LLC acquired a new stake in shares of Shenandoah Telecommunications in the first quarter valued at about $90,000. Two Sigma Investments LP purchased a new position in Shenandoah Telecommunications in the fourth quarter worth approximately $126,000. Tower Research Capital LLC TRC grew its position in Shenandoah Telecommunications by 11.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,735 shares of the utilities provider's stock worth $173,000 after acquiring an additional 1,380 shares during the period. Quantinno Capital Management LP purchased a new position in Shenandoah Telecommunications in the fourth quarter worth approximately $175,000. Finally, ProShare Advisors LLC grew its position in Shenandoah Telecommunications by 44.7% in the fourth quarter. ProShare Advisors LLC now owns 14,622 shares of the utilities provider's stock worth $184,000 after acquiring an additional 4,517 shares during the period. Institutional investors and hedge funds own 61.96% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SHEN. Wall Street Zen lowered Shenandoah Telecommunications from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 10th. BWS Financial restated a "buy" rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Thursday, May 1st. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $26.00.

Insider Activity

In other news, major shareholder Ecp Fiber Holdings Gp, Llc acquired 32,000 shares of the company's stock in a transaction on Thursday, May 29th. The shares were bought at an average price of $12.46 per share, with a total value of $398,720.00. Following the completion of the acquisition, the insider owned 2,532,697 shares in the company, valued at $31,557,404.62. This trade represents a 1.28% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ecp Controlco, Llc acquired 36,238 shares of the company's stock in a transaction on Monday, June 2nd. The shares were purchased at an average cost of $12.58 per share, for a total transaction of $455,874.04. Following the acquisition, the insider owned 2,599,274 shares of the company's stock, valued at approximately $32,698,866.92. The trade was a 1.41% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 807,428 shares of company stock worth $11,044,650. Corporate insiders own 4.51% of the company's stock.

Shenandoah Telecommunications Stock Up 0.2%

Shenandoah Telecommunications stock traded up $0.02 during midday trading on Tuesday, reaching $13.25. The company's stock had a trading volume of 433,693 shares, compared to its average volume of 345,731. The business has a 50-day simple moving average of $13.91 and a 200-day simple moving average of $12.84. The company has a market cap of $726.90 million, a P/E ratio of -23.66 and a beta of 0.90. Shenandoah Telecommunications Co has a fifty-two week low of $9.77 and a fifty-two week high of $16.89. The company has a quick ratio of 0.73, a current 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, topping the consensus estimate 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. On average, 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.