American Century Companies Inc. Sells 32,720 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

American Century Companies Inc. trimmed its stake in Shenandoah Telecommunications (NASDAQ:SHEN) by 8.1% during the second quarter, HoldingsChannel.com reports. The fund owned 373,301 shares of the utilities provider’s stock after selling 32,720 shares during the quarter. American Century Companies Inc.’s holdings in Shenandoah Telecommunications were worth $6,096,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in Shenandoah Telecommunications in the fourth quarter valued at $41,000. GAMMA Investing LLC grew its position in Shenandoah Telecommunications by 90.8% in the first quarter. GAMMA Investing LLC now owns 2,484 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 1,182 shares during the period. SG Americas Securities LLC bought a new stake in Shenandoah Telecommunications in the first quarter valued at $109,000. Aristides Capital LLC bought a new stake in shares of Shenandoah Telecommunications during the first quarter worth $181,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Shenandoah Telecommunications during the first quarter worth $211,000. 61.96% of the stock is currently owned by institutional investors.

Insider Activity at Shenandoah Telecommunications

In other news, CEO Christopher E. French purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $14.02 per share, for a total transaction of $70,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 86,485 shares in the company, valued at $1,212,519.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 purchase, the chief executive officer now owns 86,485 shares of the company’s stock, valued at approximately $1,212,519.70. The acquisition was disclosed in a filing with the SEC, which is available at 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 bought at an average cost of $14.94 per share, for a total transaction of $97,110.00. Following the purchase, the chief executive officer now directly owns 346,394 shares of the company’s stock, valued at approximately $5,175,126.36. The disclosure for this purchase can be found here. Insiders have bought a total of 14,700 shares of company stock worth $212,745 over the last 90 days. Insiders own 4.37% of the company’s stock.

Shenandoah Telecommunications Price Performance

Shares of SHEN stock opened at $15.09 on Wednesday. The stock’s fifty day moving average is $16.47 and its 200-day moving average is $16.50. The stock has a market capitalization of $823.11 million, a PE ratio of 3.48 and a beta of 0.67. Shenandoah Telecommunications has a 52 week low of $11.87 and a 52 week high of $25.51. 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) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.10). The firm had revenue of $85.80 million during the quarter, compared to the consensus estimate of $86.12 million. Shenandoah Telecommunications had a net margin of 68.81% and a negative return on equity of 0.48%. Equities research analysts expect that Shenandoah Telecommunications will post -0.26 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.