Rhumbline Advisers Sells 9,674 Shares of Shenandoah Telecommunications Co $SHEN

Rhumbline Advisers lessened its stake in Shenandoah Telecommunications Co (NASDAQ:SHEN) by 6.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,405 shares of the utilities provider’s stock after selling 9,674 shares during the period. Rhumbline Advisers owned about 0.26% of Shenandoah Telecommunications worth $1,765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 acquiring an additional 19,130 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Shenandoah Telecommunications by 27.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider’s stock valued at $6,700,000 after acquiring an additional 116,040 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of 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 acquiring an additional 55,432 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Shenandoah Telecommunications by 48.3% in the 1st quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider’s stock valued at $5,644,000 after acquiring an additional 146,221 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in 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 during the last quarter. Institutional investors own 61.96% of the company’s stock.

Shenandoah Telecommunications Stock Performance

Shenandoah Telecommunications stock opened at $14.21 on Friday. 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 has a market capitalization of $779.56 million, a P/E ratio of -25.37 and a beta of 0.87. The stock’s 50 day moving average is $13.67 and its 200 day moving average is $13.08. Shenandoah Telecommunications Co has a twelve month low of $9.77 and a twelve month high of $16.79.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported ($0.19) earnings per share 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 the consensus estimate 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, equities research analysts predict that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Shenandoah Telecommunications

In other Shenandoah Telecommunications news, major shareholder Ecp Controlco, Llc bought 3,000 shares of the business’s stock in a transaction on Friday, September 5th. The shares were acquired at an average cost of $13.45 per share, for a total transaction of $40,350.00. Following the purchase, the insider owned 3,441,252 shares in the company, valued at approximately $46,284,839.40. This trade represents a 0.09% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher E. French bought 16,800 shares of the business’s stock in a transaction on Monday, August 11th. The shares were acquired at an average price of $11.83 per share, for a total transaction of $198,744.00. Following the completion of the purchase, the chief executive officer owned 410,517 shares in the company, valued at approximately $4,856,416.11. The trade was a 4.27% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 653,196 shares of company stock worth $9,094,126. Insiders own 4.51% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered 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 data from MarketBeat, the stock has a consensus rating of “Buy” and an average 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.