Maryland State Retirement & Pension System Sells 1,711 Shares of Shenandoah Telecommunications Co $SHEN

Maryland State Retirement & Pension System trimmed its holdings in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) by 11.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,769 shares of the utilities provider’s stock after selling 1,711 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Shenandoah Telecommunications were worth $173,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Shenandoah Telecommunications by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider’s stock valued at $349,000 after buying an additional 1,061 shares during the last quarter. Nebula Research & Development LLC raised its stake in Shenandoah Telecommunications by 5.5% during the fourth quarter. Nebula Research & Development LLC now owns 22,076 shares of the utilities provider’s stock worth $278,000 after buying an additional 1,147 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings 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 valued at $173,000 after buying an additional 1,380 shares during the period. PAX Financial Group LLC boosted its position in Shenandoah Telecommunications by 5.4% during the first quarter. PAX Financial Group LLC now owns 39,135 shares of the utilities provider’s stock valued at $492,000 after acquiring an additional 2,017 shares during the last quarter. Finally, LPL Financial LLC raised its position in shares of Shenandoah Telecommunications by 5.9% in the 4th quarter. LPL Financial LLC now owns 38,461 shares of the utilities provider’s stock worth $485,000 after acquiring an additional 2,143 shares in the last quarter. Institutional investors own 61.96% of the company’s stock.

Insider Activity

In other news, major shareholder Ecp Fiber Holdings Gp, Llc purchased 25,104 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average cost of $12.71 per share, with a total value of $319,071.84. Following the completion of the transaction, the insider directly owned 3,191,550 shares of the company’s stock, valued at approximately $40,564,600.50. This trade represents a 0.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Ecp Controlco, Llc acquired 30,000 shares of Shenandoah Telecommunications stock in a transaction on Monday, August 11th. The stock was purchased at an average cost of $11.88 per share, with a total value of $356,400.00. Following the completion of the transaction, the insider directly owned 3,251,550 shares in the company, valued at $38,628,414. This represents a 0.93% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 799,589 shares of company stock worth $10,925,901 over the last quarter. Insiders own 4.51% of the company’s stock.

Shenandoah Telecommunications Stock Performance

Shares of SHEN opened at $12.54 on Wednesday. The firm has a market capitalization of $687.94 million, a P/E ratio of -22.39 and a beta of 0.90. Shenandoah Telecommunications Co has a 52 week low of $9.77 and a 52 week high of $16.89. The stock has a 50 day moving average price of $14.01 and a two-hundred day moving average price of $12.77. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.73 and a current ratio of 0.73.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Thursday, July 31st. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.01. Shenandoah Telecommunications had a negative return on equity of 3.78% and a negative net margin of 8.90%.The company had revenue of $88.57 million for the quarter, compared to analysts’ expectations of $89.94 million. Shenandoah Telecommunications has set its FY 2025 guidance at EPS. Equities analysts forecast that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SHEN shares. 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. Wall Street Zen lowered Shenandoah Telecommunications from a “hold” rating to a “strong sell” rating in a research note on Sunday, August 10th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Shenandoah Telecommunications presently has an average rating of “Buy” and an average target price of $26.00.

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.