Mercer Global Advisors Inc. ADV Grows Stake in Shenandoah Telecommunications (NASDAQ:SHEN)

Mercer Global Advisors Inc. ADV raised its stake in Shenandoah Telecommunications (NASDAQ:SHEN) by 99.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,288 shares of the utilities provider’s stock after purchasing an additional 50,630 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Shenandoah Telecommunications were worth $1,654,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SHEN. Vanguard Group Inc. grew its stake in shares of Shenandoah Telecommunications by 1.0% during the first quarter. Vanguard Group Inc. now owns 5,488,067 shares of the utilities provider’s stock valued at $95,328,000 after acquiring an additional 51,697 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Shenandoah Telecommunications by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,576,290 shares of the utilities provider’s stock valued at $42,070,000 after acquiring an additional 29,413 shares in the last quarter. DAVENPORT & Co LLC grew its stake in shares of Shenandoah Telecommunications by 8.3% during the first quarter. DAVENPORT & Co LLC now owns 932,832 shares of the utilities provider’s stock valued at $16,203,000 after acquiring an additional 71,451 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Shenandoah Telecommunications by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,915 shares of the utilities provider’s stock valued at $16,256,000 after acquiring an additional 42,747 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Shenandoah Telecommunications by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 466,677 shares of the utilities provider’s stock valued at $7,621,000 after acquiring an additional 13,776 shares in the last quarter. 61.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. BWS Financial restated a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Thursday, August 8th. StockNews.com upgraded Shenandoah Telecommunications to a “sell” rating in a research note on Tuesday, July 30th.

Shenandoah Telecommunications Stock Down 2.0 %

NASDAQ:SHEN opened at $15.09 on Wednesday. The company has a market capitalization of $823.11 million, a price-to-earnings ratio of 3.48 and a beta of 0.67. Shenandoah Telecommunications has a one year low of $11.87 and a one year high of $25.51. The stock has a 50-day simple moving average of $16.47 and a 200 day simple moving average of $16.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). The firm had revenue of $85.80 million during the quarter, compared to analyst estimates of $86.12 million. Shenandoah Telecommunications had a negative return on equity of 0.48% and a net margin of 68.81%. Sell-side analysts predict that Shenandoah Telecommunications will post -0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other Shenandoah Telecommunications news, CEO Christopher E. French bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were purchased at an average price of $14.02 per share, with a total value of $70,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 86,485 shares of the company’s stock, valued at approximately $1,212,519.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Shenandoah Telecommunications news, CEO Christopher E. French bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were purchased at an average price of $14.02 per share, with a total value of $70,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 86,485 shares of the company’s stock, valued at approximately $1,212,519.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher E. French bought 6,500 shares of the business’s stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $14.94 per share, for a total transaction of $97,110.00. Following the acquisition, the chief executive officer now directly owns 346,394 shares of the company’s stock, valued at $5,175,126.36. The disclosure for this purchase can be found here. Over the last three months, insiders bought 14,700 shares of company stock worth $212,745. Corporate insiders own 4.37% of the company’s stock.

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.