Public Sector Pension Investment Board Acquires 6,072 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

Public Sector Pension Investment Board raised its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 5.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 110,379 shares of the utilities provider’s stock after buying an additional 6,072 shares during the period. Public Sector Pension Investment Board’s holdings in Shenandoah Telecommunications were worth $1,802,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SHEN. Norges Bank acquired a new stake in Shenandoah Telecommunications during the 4th quarter valued at $6,797,000. DAVENPORT & Co LLC lifted its holdings 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 worth $16,203,000 after buying an additional 71,451 shares in the last quarter. Vanguard Group Inc. lifted its holdings 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 worth $95,328,000 after buying an additional 51,697 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Shenandoah Telecommunications by 99.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 101,288 shares of the utilities provider’s stock worth $1,654,000 after buying an additional 50,630 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Shenandoah Telecommunications during the first quarter worth $211,000. 61.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SHEN. StockNews.com raised Shenandoah Telecommunications to a “sell” rating in a report on Tuesday, July 30th. BWS Financial reissued a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Thursday, August 8th.

Shenandoah Telecommunications Stock Down 3.4 %

SHEN stock opened at $14.11 on Tuesday. The company has a market cap of $769.66 million, a PE ratio of 3.26 and a beta of 0.67. The business has a 50-day simple moving average of $16.18 and a 200 day simple moving average of $16.43. Shenandoah Telecommunications has a 52 week low of $11.87 and a 52 week high of $25.51. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31.

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 company had revenue of $85.80 million during the quarter, compared to analyst estimates of $86.12 million. Shenandoah Telecommunications had a net margin of 68.81% and a negative return on equity of 0.48%. Sell-side analysts anticipate that Shenandoah Telecommunications will post -0.26 EPS for the current fiscal year.

Insider Activity at Shenandoah Telecommunications

In related news, CEO Christopher E. French purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $14.02 per share, with a total value of $70,100.00. Following the completion of the purchase, the chief executive officer now directly owns 86,485 shares in the company, valued at $1,212,519.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Shenandoah Telecommunications news, CEO Christopher E. French bought 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were purchased at an average price of $14.02 per share, for a total transaction of $70,100.00. Following the completion of the transaction, the chief executive officer now directly owns 86,485 shares in the company, valued at approximately $1,212,519.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher E. French bought 6,500 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $14.94 per share, for a total transaction of $97,110.00. Following the transaction, the chief executive officer now owns 346,394 shares of the company’s stock, valued at $5,175,126.36. The disclosure for this purchase can be found here. Insiders purchased a total of 14,700 shares of company stock valued at $212,745 over the last quarter. 4.37% of the stock is owned by corporate insiders.

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.